LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP reminds investors of World Acceptance Corporation (“World Acceptance Corp.” or the “Company”) (NASDAQ:WRLD) that all purchasers of World Acceptance Corp. common stock between April 25, 2013 and March 12, 2014, inclusive (the “Class Period”), have until June 23, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
World Acceptance Corp. engages in small-loan consumer finance business in the United States and Mexico. The Company’s products include short-term and medium-term loans, related credit insurance, and ancillary products and services. The Complaint alleges that throughout the Class Period defendants issued false and misleading statements or failed to disclose that the Company's loan practices do not abide by the Consumer Financial Protection Act and/or the Truth in Lending Act, and the Company's statements concerning its business, operations and prospects were false and misleading.
On March 13, 2014, the Company disclosed that it received a Civil Investigative Demand from the U.S. Consumer Financial Protection Bureau, in connection with a Bureau investigation to determine “whether finance companies or other unnamed persons have been or are engaging in unlawful acts or practices in connection with the marketing, offering, or extension of credit” in violation of certain sections of the Consumer Financial Protection Act, the Truth in Lending Act, or any other Federal consumer financial law.
According to the Company, the investigation also seeks to determine “whether Bureau action to obtain legal or equitable relief would be in the public interest,” and the Civil Investigative Demand contains “broad requests for production of documents, answers to interrogatories and written reports related to loans made by the Company and numerous other aspects of the Company’s business.”
If you are a member of the Class described above, you may move the Court no later than June 23, 2014, to serve as lead plaintiff; however, you must meet certain legal requirements. 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 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 email@example.com, or visit our website at http://www.glancylaw.com.
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