NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Credit Acceptance Corporation (NASDAQ: CACC) resulting from allegations that Credit Acceptance may have issued materially misleading business information to the investing public.
On March 25, 2020, Citron Research published a report highlighting the steep upward trend in subprime auto loan delinquencies, stating 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%, to close at $254.00 per share on April 21, 2020.
Rosen Law Firm is preparing a securities lawsuit on behalf of Credit Acceptance shareholders. If you purchased securities of Credit Acceptance please visit the firm’s website at http://www.rosenlegal.com/cases-register-1851.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013. Rosen Law Firm has secured hundreds of millions of dollars for investors.
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