WORLD ACCEPTANCE INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates World Acce...
July 02 2015 - 10:00PM
Business Wire
Former Attorney General of Louisiana, Charles C. Foti, Jr.,
Esq., a partner at the law firm of Kahn Swick & Foti, LLC
(“KSF”), announces that KSF has commenced an investigation into
World Acceptance Corp. (Nasdaq: WRLD).
On March 13, 2013, the Company disclosed that it is the target
of an investigation by the U.S. Consumer Financial Protection
Bureau concerning potential "unlawful acts or practices in
connection with the marketing, offering, or extension of credit" in
violation of federal law, causing the price of the Company’s stock
to plummet by almost 20%.
Following this news, a securities fraud class action case was
brought against World Acceptance, alleging that the Company
violated federal securities laws. The judge in that action has
denied World Acceptance’s motion to dismiss, so the case is
proceeding to trial.
KSF’s investigation is focusing on whether World Acceptance’s
officers and/or directors breached their fiduciary duties to World
Acceptance’s shareholders or otherwise violated state or federal
laws.
If you have information that would assist KSF in its
investigation, or have been a long-term holder of World Acceptance
shares and would like to discuss your legal rights, you may,
without obligation or cost to you, call toll free at 1-877-515-1850
or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney
General Charles C. Foti, Jr., is a law firm focused on securities
class action and shareholder derivative litigation with offices in
New York, California and Louisiana. KSF's lawyers have significant
experience litigating complex securities class actions nationwide
on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150702005916/en/
Kahn Swick & Foti, LLCLewis Kahn, 1-877-515-1850Managing
Partnerlewis.kahn@ksfcounsel.com
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