Case Page

 

Case Status:    ONGOING    
On or around 12/26/2016 (Ongoing date of last review)

Filing Date: December 23, 2016

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.

COMPANY INFORMATION:

Sector: Services
Industry: Rental & Leasing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: RCII
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: E.D. Texas
DOCKET #: 16-CV-00978
JUDGE: Hon. Amos L. Mazzant, III
DATE FILED: 12/23/2016
CLASS PERIOD START: 07/27/2015
CLASS PERIOD END: 10/10/2016
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
    1925 Century Park East, Suite 2100 , Glancy Prongay & Murray LLP, CA 90067
    (310) 201-9150 (310) 432-1495 ·
  2. Kendall Law Group, LLP
    3232 McKinney, Ste 700, Kendall Law Group, LLP, TX 75204
    214.744.3000 214.744.3000 ·
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