Shareholder Alert: Robbins LLP Announces Shareholder Class Action Against CURO Group Holdings, Corp. (CURO) Survives Motion t...
January 21 2020 - 7:27PM
Business Wire
Shareholder rights law firm Robbins LLP announces that CURO
Group Holdings, Corp. (NYSE: CURO) may face damages caused by a
pending securities lawsuit. CURO is a diversified consumer finance
company, provides consumer finance to a range of underbanked
consumers.
If you suffered a loss as a result of CURO's misconduct, click
here.
Shareholder Class Action Alleging CURO Group Holdings, Corp.
(CURO) Made Materially False and Misleading Statements Survives
Motion to Dismiss
Investors filed a class action complaint against CURO for
alleged violations of the Securities Exchange Act of 1934.
According to the class action complaint, between July 31, 2018 and
October 24, 2018, CURO consistently touted the ongoing success of
transitioning its Canadian inventory products from Single-Pay Loans
to Open-End Loans and reaffirmed its 2018 full-year financial
guidance. Despite positive assurances regarding the transition, on
October 24, 2018, CURO shocked investors with disappointing results
for the Company's third quarter, including Canadian revenue that
had decreased by $4.4 million, provision for losses that had
increased by $8.7 million, and an adjusted EBITDA that decreased by
$15.36 million. As a result, CURO revised its 2018 full-year
guidance to include adjusted net income in the range of $88-$91
million compared to the previous range of $110-$116 million and an
adjusted EBITDA in the range of $215-$218 million compared to its
previous range of $245-$255 million. On this news, CURO's stock
price plummeted $7.69, or almost 34%, to close at $15.18 per share.
On December 3, 2019, U.S. District Court Judge John W. Lungstrum
denied CURO's motion to dismiss plaintiffs' claims, paving the way
for litigation to proceed.
CURO Group Holdings, Corp. (CURO) Shareholders Have Legal
Options
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click Here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20200121006159/en/
Leonid Kandinov Robbins LLP LKandinov@robbinsllp.com (619)
525-3990 or Toll Free (800) 350-6003 www.robbinsllp.com
CURO (NYSE:CURO)
Historical Stock Chart
From Mar 2024 to Apr 2024
CURO (NYSE:CURO)
Historical Stock Chart
From Apr 2023 to Apr 2024