According to the Complaint, First American Financial Corp., through its subsidiaries, provides financial services through its title insurance and services segment and its specialty insurance segment.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company failed to implement basic security standards to protect its customers’ sensitive personal information and data; (2) the Company faced a heightened risk of cybersecurity failure due to its automation and efficiency initiatives; and (3) as a result, Defendants’ public statements were materially false and misleading at all relevant times.

On January 27, 2021, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on March 29. Defendants filed a Motion to Dismiss the amended Complaint on May 21. On September 22, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

On October 25, 2021, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on December 9. On May 11, 2022, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.