Lead Plaintiff Deadline: 07/14/2020
SUMMARY OF CASE:
A securities class action has been filed against Conn’s, Inc. (CONN) on behalf of persons and entities that purchased or otherwise acquired Conn’s securities between September 3, 2019 through December 9, 2019. This case has been filed in the USDC – S.D.TX.
The Complaint alleges on December 10, 2019, before the market opened, Conn’s reported its third quarter 2020 financial results in a press release. Therein, the Company reported retail revenues of $280.3 million, compared to $284.1 million in the prior year period. Conn’s attributed the revenue decline to a decrease in same store sales, which “reflects underwriting adjustments made during the three months ended October 31, 2019.”
On this news, the Company’s share price fell $6.85, or over 33%, to close at $13.65 per share on December 10, 2019, thereby injuring investors.