NEW ORLEANS, LA / ACCESSWIRE / October 31, 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), 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, you must petition 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.

CONTACT:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163'

SOURCE: Kahn Swick & Foti, LLC