Case Page

 

Case Status:    ONGOING    
On or around 07/20/2017 (Ongoing date of last review)

Filing Date: July 20, 2015

According to the law firm press release, EZCORP delivers cash solutions to customers across channels, products, services and markets. With approximately 1,400 locations and branches, the Company offers customers multiple ways to access instant cash, including pawn loans and consumer loans in the United States, Mexico, Canada and the United Kingdom. The Company offers these products through four primary channels: in-store, online, at the worksite, and through a mobile platform.

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose, among others: (1) that the Company improperly recognized particular structured assets sales; (2) that the Company improperly classified certain loans; (3) that, as a result, the Company overstated its gains on assets sales and accrued interest revenue; (4) that, as such, the Company’s financial statements were not prepared in accordance with Generally Accepted Accounting Principles; (5) that the Company lacked adequate internal and financial controls; and (6) that, as a result of the foregoing, defendants’ statements were materially false and misleading at all relevant times. Over the course of several disclosures, the Company revealed its alleged accounting and securities fraud, causing the Company’s share price to decline thereby harming investors.

Plaintiffs filed an amended complaint on January 11, 2016.

On October 18, 2016, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given twenty days to amend their complaint. Plaintiffs filed an amended complaint on November 4.

On May 8, 2017, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss.

COMPANY INFORMATION:

Sector: Financial
Industry: Consumer Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: EZPW
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: W.D. Texas
DOCKET #: 15-CV-00608
JUDGE: Hon. Sam Sparks
DATE FILED: 07/20/2015
CLASS PERIOD START: 10/27/2014
CLASS PERIOD END: 07/16/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  2. Kendall Law Group, LLP
    3232 McKinney, Ste 700, Kendall Law Group, LLP, TX 75204
    214.744.3000 214.744.3000 ·
No Document Title Filing Date
COURT: W.D. Texas
DOCKET #: 15-CV-00608
JUDGE: Hon. Sam Sparks
DATE FILED: 11/04/2016
CLASS PERIOD START: 11/07/2013
CLASS PERIOD END: 10/20/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Block & Leviton LLP
    155 Federal Street, Suite 1303, Block & Leviton LLP, MA 02110
    (617) 398-5600 (617) 507-6020 ·
  2. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  3. Kendall Law Group, LLP
    3232 McKinney, Ste 700, Kendall Law Group, LLP, TX 75204
    214.744.3000 214.744.3000 ·
No Document Title Filing Date