We are investigating First American Financial Corp. (FAF) (“First American” or the “Company”) for potential violations of the federal securities laws.
On May 24, 2019, Brian Krebs of krebsonsecurity.com published a report alleging that First American may have allowed unauthorized access to more than 885 million records related to mortgage deals going back to 2003. According to the report, First American stated that it learned of a “design defect in one of its production applications that made possible unauthorized access to customer data” and has shut down external access. On this news, First American’s stock price fell $3.46 per share, or 6.26%, to close at $51.80 per share on May 28, 2019.