Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In PROG To Contact Him Directly To Discuss Their Options
NEW YORK, August 31, 2022 / Newsfile / -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against PROG Holdings, Inc. (“PROG” or the “Company”) (NYSE: PRG).
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On August 25, 2022, Pennsylvania's Attorney General filed a lawsuit against PROG's Progressive Leasing unit for allegedly violating the Rental Purchase Agreement Act ("RPAA"), a law that requires companies to clearly disclose fees for rent-to-own financing. According to the lawsuit, agents of the Attorney General's Office visited multiple stores across the state that use Progressive Leasing to offer rental-purchase agreement to their customers. "The investigation revealed widespread non-compliance" with the RPAA's disclosure requirements by Progressive Leasing and its merchant partners, the Attorney General's Office said in a statement.
On this news, PROG's stock price fell $2.51 per share, or 12.14%, to close at $18.16 per share on August 26, 2022.
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PROG Holdings, Inc.
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Filed on 08/31/2022
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