Faruqi & Faruqi, LLP Reminds Investors Who Suffered Substantial Losses Investing In Conn’s Inc. (CONN) Of Impending Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Conn’s Inc. (“Conn’s” or the “Company”) (NASDAQ: CONN) of the February 10, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Conn’s and certain officers of the Company.
A complaint has been filed in the United States District Court for the Southern District of Texas on behalf of all persons who purchased or otherwise acquired Conn’s common stock between September 2, 2014 and December 9, 2014 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Conn’s misrepresented and/or failed to disclose that (i) the Company’s business and financial results were growing through the utilization of underwriting and collections practices that damaged its portfolio and made it susceptible to substantial increases in bad debt; and (ii) Conn’s credit segment faced increased delinquency and charge-off rates.
On December 9, 2014, Conn’s announced that it is withdrawing its earnings guidance for fiscal year 2015 and that the Company’s chief financial officer will stepping down.
Following this news, the price of Conn’s stock declined by $14.26 per share, or over 40%, to close on December 9, 2014 at $20.83 per share.
If you invested in Conn’s stock, bonds or options between September 2, 2014 and December 9, 2014 and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Conn’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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