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 World Acceptance Corp. (Nasdaq: WRLD).
On March 13, 2013, the Company disclosed that it is the target of an investigation by the U.S. Consumer Financial Protection Bureau concerning potential "unlawful acts or practices in connection with the marketing, offering, or extension of credit" in violation of federal law, causing the price of the Company’s stock to plummet by almost 20%.
Following this news, a securities fraud class action case was brought against World Acceptance, alleging that the Company violated federal securities laws. The judge in that action has denied World Acceptance’s motion to dismiss, so the case is proceeding to trial.
KSF’s investigation is focusing on whether World Acceptance’s officers and/or directors breached their fiduciary duties to World Acceptance’s 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 World Acceptance 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 class action and shareholder derivative litigation with offices in New York, California and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.
To learn more about KSF, you may visit www.ksfcounsel.com.