SAN DIEGO & WICHITA, Kan.--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP is investigating whether the officers and directors of CURO Group Holdings Corp. (NYSE: CURO) violated the Securities Exchange Act of 1934 between April 27, 2018 and October 24, 2018, and in so doing breached their fiduciary duties to the Company and its shareholders. Curo provides consumer finance to a range of underbanked consumers in the United States, Canada, and the United Kingdom.
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CURO Group Holdings Corp. (CURO) May Have Misled Shareholders
In response to a change in Canadian laws, Curo began to develop a strategy to transition its Canadian business out of single-pay loans to installment and line of credit ("open-end") loan products. Curo assured the transition would be slow with minimal negative impact confined to the second quarter 2018. Though Curo consistently reaffirmed its full year 2018 ("FY18") financial guidance in its public statements, on October 24, 2018, Curo announced dismal third quarter 2018 results that widely missed analysts' expectations and revealed a staggering decline of 50% year-over-year in single-pay loan balances, culminating in a significant cut to the Company's FY18 guidance. On this news, Curo's stock price fell almost 34% to close at $15.12 per share. The stock has since continued to decline, currently trading at around $8.
CURO Group Holdings Corp. (CURO) Shareholders Have Legal Options
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