The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Conn's, Inc. (NASDAQ: CONN) who purchased shares between September 3, 2019 and December 9, 2019. The action, which was filed in the United States District Court for the Southern District of Texas, alleges that the Company violated federal securities laws.
In particular, the Conn's lawsuit alleges that (1) Conn’s was experiencing an increase in first payment defaults and 60-plus day delinquencies; (2) as a result, Conn’s was reasonably likely to record an increase to its provision for bad debts; (3) the Company made certain underwriting adjustments, including tightening its standards for new customers and online applicants; (4) as a result, the Company’s same-store sales would be adversely impacted; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Shareholders have until July 14, 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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