The Klein Law Firm announces that a class action complaint has been filed on behalf of investors who purchased shares of CURO Group Holdings Corp. (NYSE: CURO) between July 31, 2018 and October 24, 2018.
Throughout the Class Period, Defendants materially misrepresented to investors the deleterious effect that the up-front loan loss provisioning in connection with a transition of its Canadian inventory to Open-Ended loans was having on the Company’s financial performance and 2018 full-year Company guidance. Because CURO’s Open-End Loans had a materially lower lending yield than the Single-Pay Products, and the portfolio of Open-End Loans was still immature and unseasoned, the up-front loan loss provisioning for these loanswas far greater than publicly revealed (and the yield far lower). This caused the Company to materially overstate its 2018 projected financial results, including CURO’s adjusted EBITDA, net revenue and operating earnings.
Shareholders have until February 4, 2019 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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