NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into OneMain Holdings, Inc. (NYSE: OMF).
On November 8, 2016, OneMain Holdings revealed that the company was lowering its guidance regarding loan portfolio growth from 10%-15% to 5% for 2016 and from 10%-15% to 5%-10% for 2017, citing difficulties from its integration efforts with Springleaf and increases in delinquencies, among other things.
The Company further stated that it was reducing “Consumer and Insurance adjusted EPS guidance for 2016, [from $4.20 to $4.70] to a range of $3.60 to $3.70 per share…” and from $5.60 to $6.10 “to $3.75 to $4.00 per share” for 2017.
Thereafter, OneMain Holdings and certain of its executives were sued in a class action lawsuit, charging them with violations of federal securities laws.
KSF’s investigation is focusing on whether OneMain Holdings’ officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of OneMain Holdings shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org).
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.