Archived Investigations

U.S. Bancorp (NYSE: USB)

Company Name:U.S. Bancorp
Stock Symbol:NYSE: USB
Court:Southern District of New York
Class Period Start:08/01/2019
Class Period End (inclusive):07/28/2022
Filing Deadline:The deadline has passed.
October 27, 2022

Kahn Swick & Foti, LLC (“KSF”) and KSF partner, 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).

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.

Click here to read the first filed complaint.