A law firm recently announced that it filed a securities class action lawsuit against the leaders of a consumer finance company due to potential violations.
Law office Levi and Korsinsky explained that the litigation was filed in the U.S. District Court for the District of South Carolina against World Acceptance Corp. This includes all shareholders who acquired interests in the company during the class period between April 25, 2013, and March 12, 2014.
The company allegedly made a number of statements that were either false or misleading about its business practices, prospects and overall operations. There is also a possibility that the leaders of World Acceptance Corp. did not inform shareholders of facts that were necessary to be aware of.
World Acceptance Corp. stock fell by close to 20 percent on March 13, 2014, due to the news that it was served with a subpoena by the Consumer Financial Protection Bureau. The reason for the action was due to an investigation into its business practices where it potentially violated consumer protection laws.
It is possible for shareholders who had a loss from owning stock in the company to become lead plaintiff in the case. This is not a mandatory position, and it is possible to remain an absent class member. For those who are interested in applying, all necessary paperwork needs to be submitted to the court by June 23, 2014.
Individuals who want to learn more about the lead plaintiff position, have questions on how the lawsuit may affect them or any other issues related to their rights and interests, it is possible to speak with the law firm. Joseph Levi is the best person to speak with, and he can be reached by telephone or email.
Second lawsuit announced
Another litigation firm noted that it filed a lawsuit against the company due to the potential that it committed law violations.
Shareholders also have the ability to speak with this law office in order to learn more about the process. Both Phillip Kim and Kevin Chan are available to discuss these matters, and they can be reached by telephone or email. Additionally, the law office's website also provides further details on the lawsuit.