The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Aarons, Inc. (NYSE: AAN) who purchased shares between March 2, 2018 and February 19, 2020. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Aarons lawsuit alleges that (i) Aaron’s had inadequate disclosure controls, procedures, and compliance measures; (ii) consequently, the operations of Aaron’s Progressive Leasing ("Progressive") and Aaron's Business ("AB") segments were in violation of the Federal Trade Commission ("FTC") Act and/or relevant FTC regulations; (iii) consequently, Aaron’s earnings from those segments were partially derived from unlawful business practices and were thus unsustainable; (iv) the full extent of Aaron’s liability regarding the FTC’s investigation into its Progressive and AB segments, Aaron’s noncompliance with the FTC Act, and the likely negative consequences of all the foregoing on the Company’s financial results; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until April 28, 2020 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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