NEW YORK, June 19, 2017 /PRNewswire/ -- Bernstein
Litowitz Berger & Grossmann LLP ("BLB&G") today announced
that it has filed a securities class action lawsuit on behalf of
Employees' Retirement System of the City of Baton Rouge and Parish
of East Baton Rouge against Aaron's, Inc., ("Aaron's" or the
"Company") (NYSE: AAN) and certain of its senior executives.
The action, which is captioned Employees' Retirement System of
the City of Baton Rouge and Parish of East Baton Rouge v. Aaron's,
Inc., No. 1:17-cv-02270-SCJ (N.D. Ga.), asserts claims under
Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on
behalf of investors in Aaron's common stock during the time period
of February 6, 2015 to October 29, 2015, inclusive (the "Class
Period").
The Complaint alleges that during the Class Period, Aaron's
misled investors with regard to its subsidiary, Progressive Finance
Holdings, LLC ("Progressive"). The Complaint also alleges
that the Company concealed from investors that the Company was
experiencing software issues that impacted Progressive's
underwriting algorithm. In truth, Progressive had lost
critical data in February 2015, which
impacted the Company's ability to make loans and collect
payments.
If you wish to serve as Lead Plaintiff for the Class, you must
file a motion with the Court no later than 60 days from
today. Accordingly, the deadline for filing a motion for
appointment as Lead Plaintiff is August
18, 2017. Any member of the proposed Class may move
the Court to serve as Lead Plaintiff through counsel of their
choice, or may choose to do nothing and remain a member of the
proposed Class.
If you wish to discuss this Action or have any questions
concerning this notice or your rights or interests, please contact
Avi Josefson of BLB&G at
212-554-1493, or via e-mail at avi@blbglaw.com. Information
about BLB&G can be found online at www.blbglaw.com.
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SOURCE Bernstein Litowitz Berger & Grossmann LLP