Shuman, Glenn & Stecker Investigates CURO Group Holdings, Inc.
January 24 2020 - 11:10AM
Business Wire
Shuman, Glenn & Stecker announces that it is investigating
potential shareholder claims against certain officers and directors
of CURO Group Holdings, Inc. (“CURO” or the “Company”) (NYSE:
CURO). CURO is a consumer finance company focusing on payday loans,
single-pay loans and ancillary financial products.
The Firm’s investigation relates to allegations raised in a
class action complaint filed against the Company and certain of its
senior officers in the U.S. District Court for the District of
Kansas. The lawsuit alleges that 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 these positive assurances of the transition, on
October 24, 2018, CURO disclosed 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. On this news, CURO's stock price fell $7.69, or almost
34%, to close at $15.18 per share. The lawsuit further alleges that
certain of the Company’s senior officers and directors sold
approximately $33 million worth of CURO stock in a May 2018 stock
offering at a price of $23.00 per share, just prior to the
disclosure of disappointing third quarter results. CURO’s stock
trades for approximately $10 per share as of the date of this
release. On December 3, 2019, the federal judge denied CURO's
motion to dismiss the claims, paving the way for litigation to
proceed towards trial.
If you currently own CURO common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Brett Stecker toll free at (866)
569-4531 or email Mr. Stecker at brett@shumanlawfirm.com.
Shuman, Glenn & Stecker represents investors throughout the
nation, concentrating its practice in stockholder litigation.
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SHUMAN, GLENN & STECKER Brett D. Stecker, Esq. 326 West
Lancaster Ave., Suite 110 Ardmore, PA 19003 Tel: 866.569.4531 Fax:
303.536.7849 Email: brett@shumanlawfirm.com Web:
www.shumanlawfirm.com
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