NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the District of Kansas on behalf of those who acquired CURO Group Holdings Corp. (“CURO” or the “Company”) (NYSE: CURO) securities during the period from July 31, 2018 through October 24, 2018 (the “Class Period”). Investors have until February 4, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
According to the lawsuit, CURO and certain senior executives materially misrepresented to investors the negative effect that the up-front loan loss provisioning in connection with the transition of the Company’s Canadian inventory of products from “Single-Pay Loans” to “Open-End Loans” was having on the Company’s financial performance and 2018 full-year Company guidance. This caused the Company to materially overstate its 2018 projected financial results, including CURO’s adjusted EBITDA, net revenue, and operating earnings.
On October 24, 2018, the Company announced disappointing financial results for the third quarter of 2018 and substantially reduced its guidance for full-year fiscal 2018. On this news, CURO stock fell $7.69 per share, or over 33%, to close at $15.18 on October 25, 2018.
If you acquired CURO securities during the Class Period, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney’s website: www.kmllp.com.
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