BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the securities of EZCORP, Inc. (“EZCORP” or the “Company”) (NASDAQ:EZPW) between April 30, 2013 and July 18, 2014, inclusive (the “Class Period”).
EZCORP offers customers a variety of methods to access instant cash, including pawn loans and consumer loans, in the United States, Mexico, Canada and the United Kingdom. The Company offers its products through in-store, online, at the worksite, and mobile platforms. The Complaint alleges that defendants issued false and/or misleading statements and/or failed to disclose that: (i) the implementation of certain strategic and growth initiatives was less successful than represented; (ii) certain of the Company’s business units and investments were not performing as well as represented; and (iii) as a result of the above, the Company’s statements about its business and operations were materially false and misleading at all relevant times.
On July 18, 2014, MS Pawn Corporation, the voting shareholder of EZCORP’s Class B voting common stock, announced the removal from EZCORP of Paul Rothamel as director, President and Chief Executive Officer, William Love as Chairman of the Board of Directors, and Joseph Beal as director. Following this news, shares of EZCORP declined more than 12 percent on July 21, 2014.
If you are a member of the Class described above, you have until October 21, 2014, to move the Court to serve as lead plaintiff, if you 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, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.