LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the February 21, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased Rent-A-Center, Inc. (“Rent-A-Center” or the “Company”) (NASDAQ: RCII) securities between July 27, 2015, and October 10, 2016, inclusive (the “Class Period”). Rent-A-Center investors have until February 21, 2017 to file a lead plaintiff motion.
The complaint filed in this lawsuit 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 Rent-A-Center shares, you may move the Court no later than February 21, 2017 to request appointment as lead plaintiff. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email 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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