San Diego, CA -- (SBWIRE) -- 09/17/2014 -- An investor who currently holds shares Discover Financial Services (NYSE:DFS) filed a lawsuit against certain directors of Discover Financial Services over alleged breaches of fiduciary duties.

Investors who purchased shares of Discover Financial Services (NYSE:DFS) and currently hold any of those NYSE:DFS shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that certain officers at Discover Financial Services knew that Discover Financial Services was deceptively marketing its credit protection products as free while continuing to charge customers. The plaintiff claims that as alleged in several consumer class actions and government regulatory indictments certain defendants in dereliction of their oversight duties and responsibilities and otherwise in violation of their fiduciary duties, caused Discover Financial Services between 2007 and 2011 to market various fee-based credit card account add-on features to customers in a highly misleading fashion, including enrolling customers in fee-based products known as the Discover Payment Protection, Identity Theft Protection, Wallet Protection, and Credit ScoreTracker, without their consent. Then, the plaintiff alleges, Discover Financial Services’s telemarketers used scripts implying that the products were free benefits, with no fee attached, or simply enrolled consumers without their consent and charged them on their Discover card.

The plaintiff says that Discover Financial Services in September 2012 agreed to pay $200 million to 3.5 million customers and pay a $14 million penalty to settle a federal probe into its marketing of its credit protection products and that nevertheless, to date the Board of directors of Discover Financial Services has not sought to claw back compensation from the executive defendants and other members of company management that were responsible for implementation and operation of the illegal sales and marketing practices that damages the company

Discover Financial Services reported that its Net Income rose from over $2.22 billion for the 12 months period that ended on Nov. 30, 2011 to over $2.47 billion for the 12 months period that ended on Dec. 31, 2013.

Shares of Discover Financial Services (NYSE:DFS) grew from $13.45 per share in May 2010 to as high as $64.06 per share on July 22, 2014.

On September 15, 2014, NYSE:DFS shares closed at $62.78 per share.

Those who purchased shares of Discover Financial Services have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com