WAYNE, Pa.--(BUSINESS WIRE)--Goldman Scarlato Karon & Penny, P.C. is investigating potential claims on behalf of investors who purchased Conn’s, Inc. (“Conn’s or the "Company") (NASDAQ: CONN) stock between April 3, 2013 and February 19, 2014, inclusive (the “Class Period”).
The investigation concerns whether Conn’s and certain of its officers and/or directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 in connection with statements regarding the Company’s financial performance and prospects.
Specifically, the Firm is investigating Conn’s underwriting and collection practices, the risk of bad debt that might have resulted there from, and whether the Company failed to disclose those practices to investors. The Firm is also investigating whether Conn’s failed to disclose rising customer delinquencies and charge-off rates in its credit segment.
On February 20, 2014, Conn’s reported disappointing quarterly results and lowered its earnings guidance, attributing the decline to a rise in customer delinquencies and charge-offs. On this news, Conn’s stock price declined 42.85 percent—erasing more than $860 million of its market value.
What You May Do
If you have information that would assist the Firm in its investigation or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail us at firstname.lastname@example.org or call us at (484) 580-8740. The Firm also encourages anyone with information regarding Conn’s alleged conduct during the period in question to contact the Firm, including former employees, shareholders, and others.
About Goldman Scarlato Karon & Penny, P.C.
The Firm prosecutes securities fraud, consumer fraud, price-fixing, employment class actions, and shareholder-derivative actions throughout the U.S. The Firm’s lawyers have recovered hundreds of millions of dollars on behalf of consumers, investors, and businesses.
To learn more about the Firm, please visit our website, www.gskplaw.com.