NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Credit Acceptance Corporation (NASDAQ: CACC) on behalf of Credit Acceptance stockholders. Our investigation concerns whether Credit Acceptance has violated the federal securities laws and/or engaged in other unlawful business practices.
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On March 25, 2020, Citron Research published a report highlighting the steep upward trend in subprime auto loan delinquencies, observing that “[o]ver the years [Credit Acceptance] has been taking on riskier and lower return loans and hiding the true volatility of its earnings through aggressive accounting,” and questioning the accuracy of the reported book value of Credit Acceptance’s loans.
Then, on April 20, 2020, Credit Acceptance announced that it would not timely file its quarterly report for the period ended March 31, 2020.
On this news, Credit Acceptance’s stock price fell $40.71 per share, or 13.81%, to close at $254.00 per share on April 21, 2020.
If you purchased or otherwise acquired Credit Acceptance shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Melissa Fortunato or Marion Passmore by email at email@example.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.