Period: Jul 27, 2015 to Oct 10, 2016
Lead Plaintiff Deadline: Feb 21, 2017 + Deadline passed
Summary of Case:
A securities class action has been filed against Rent-A-Center, Inc. ("Rent-A-Center") (NASDAQ: RCII) on behalf of a class consisting of persons and entities that purchased or otherwise acquired Rent-A-Center, Inc. securities between July 27, 2015, and October 10, 2016. This case has been filed in the USDC - Eastern District of Texas.
The complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Rent-A-Center could not properly implement its new point of sale system ("POS"); (2) that, the POS was performing extremely poorly, including several instances where the system suffered complete outages; (3) that as a result, the Company's Acceptance Now credit system could not be implemented properly; (4) that the Company could not meet revenue and profitability guidance provided to investors; (5) that, as such, the Company would need to revise its prior guidance; and (6) that, as a result of the foregoing, Defendants' statements about Rent-A-Center's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.