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Oklahoma City, OK (December 7, 2018) – On December 5, 2018, a securities class action lawsuit was filed in the United States District Court for the District of Kansas against CURO Group Holdings Corp. (NYSE: CURO). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is July 31, 2018 through October 24, 2018. More specifically, this litigation was filed because 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.
Plaintiff seeks to recover damages on behalf of all CURO Group Holdings Corp. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, February 4, 2019 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
If you wish to discuss this action, obtain further information and participate in this or any other securities litigation, or should you have any questions or concerns regarding this notice or preservation of your rights, please contact: Robin Hester at firstname.lastname@example.org