NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC («KSF») and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 27, 2022 to file lead plaintiff applications in a securities class action lawsuit against U.S. Bancorp (NYSE: USB), if they purchased the Company’s securities between August 1, 2019 and July 28, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of U.S. Bancorp and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-usb/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by December 27, 2022.
About the Lawsuit
U.S. Bancorp and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 28, 2022, the Consumer Financial Protection Bureau fined the Company $37.5 million for a range of unlawful acts and practices including opening unauthorized accounts and unlawfully accessing customers’ credit reports and personal data in violation of the Truth in Lending Act, the Fair Credit Reporting Act, the Truth in Savings Act, and the Consumer Financial Protection Act. On this news, shares of U.S. Bancorp stock fell approximately 4% to a closing price of $46.12 per share.
The case is The Buhrke Family Revocable Trust v. U.S. Bancorp, et al., 22-cv-09174.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850