LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that it is investigating potential claims on behalf of investors of DFC Global Corp. (“DFC Global” or the “Company”) (NASDAQ:DLLR) concerning possible violations of federal securities laws. The investigation concerns certain statements issued by DFC Global between August 22, 2012 and August 22, 2013.
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DFC Global provides retail financial services, including unsecured short-term consumer loans, secured pawn lending, check cashing and gold buying, to unbanked and under-banked consumers and to small businesses. The investigation is related to the Company’s disclosure that the Consumer Financial Protection Bureau (CFPB) has informed the Company that, as a result of a fiscal 2013 examination of DFC Global’s Military Installment Loan and Education Services (“MILES”) program, the CFPB intends to initiate an administrative proceeding against DFC Global related to its marketing of certain vehicle service and insurance products and to the requirement that MILES program loans be repaid via a military allotment.
In addition, on August 22, 2013 DFC Global announced its fiscal fourth quarter and full-year 2013 financial results, and disclosed that the Company experienced higher loan defaults in its United Kingdom business during the second half of the fiscal year, which the Company attributed to new, more-restrictive regulatory requirements in the United Kingdom. Following this news, the price of DFC Global shares dropped nearly 29%, from a closing price of $15.90 per share on August 22, 2013, to a close of $11.31 per share on August 23, 2013, on unusually heavy volume of more than six million shares traded.
If you purchased DFC Global shares August 22, 2012 and August 22, 2013, if you have information or would like to learn more about these claims or if you purchased DFC Global shares before August 22, 2012, and have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
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