NEW YORK -- (Business Wire)
Pomerantz LLP is investigating claims on behalf of investors of Aaron’s,
Inc. (“Aaron’s” or the “Company”) (NYSE: AAN). Such investors are
advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com
or 888-476-6529, ext. 9980.
The investigation concerns whether Aaron’s and certain of its officers
and/or directors have engaged in securities fraud or other unlawful
business practices.
[Click
here to join a class action]
On October 30, 2015, Aaron’s disclosed to investors that nine months
earlier, in February 2015, Progressive Finance Holdings, LLC, the
Company’s most profitable subsidiary, had lost two critical data feeds
used to determine customers’ leasing qualifications. Specifically, the
loss of data caused the Company to experience “higher bad debt expense
and merchandise write offs” and delayed its “ability to identify and
begin collections on certain delinquent accounts.”
On these disclosures, the Company’s share price fell $8.88, or 26.47%,
to close at $24.67 on October 30, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the areas of
corporate, securities, and antitrust class litigation. Founded by the
late Abraham L. Pomerantz, known as the dean of the class action bar,
the Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in the
tradition he established, fighting for the rights of the victims of
securities fraud, breaches of fiduciary duty, and corporate misconduct.
The Firm has recovered numerous multimillion-dollar damages awards on
behalf of class members. See www.pomerantzlaw.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170707005707/en/
Contacts:
Pomerantz LLP
Robert S. Willoughby
rswilloughby@pomlaw.com
Source: Pomerantz LLP
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