Rent-A-Center, Inc. is an American public furniture and electronics rent-to-own company based in Texas.

According to the law firm press release, the Complaint filed in this lawsuit alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that Rent-A-Center could not properly implement its new point of sale system (“POS”); (2) that, the POS was performing extremely poorly, including several instances where the system suffered complete outages; (3) that as a result, the Company’s Acceptance Now credit system could not be implemented properly; (4) that the Company could not meet revenue and profitability guidance provided to investors; (5) that, as such, the Company would need to revise its prior guidance; and (6) that, as a result of the foregoing, Defendants’ statements about Rent-A-Center’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.

The Court appointed Lead Plaintiff and Counsel on March 16, 2017. A consolidated Complaint was filed on May 5. Defendants filed a Motion to Dismiss the consolidated Complaint on June 5. On December 14, the Court issued an Order denying Defendants' Motion to Dismiss.

On December 4, 2018, the parties entered into a Stipulation and Agreement of Settlement. On December 13, the Court granted preliminary approval of the Settlement. On May 3, 2019, the Court granted final approval of the Settlement and entered Final Judgment. The Court issued an Order approving the Settlement's distribution on March 11, 2021.