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Aaron's Inc.

Case Summary

Aaron's Inc. Securities Litigation

Case Summary

Case Status:    DISMISSED    
On or around 09/26/2018 (Other)

Filing Date: June 16, 2017

According to the law firm press release, the Complaint alleges that during the Class Period, Aaron's misled investors with regard to its subsidiary, Progressive Finance Holdings, LLC ("Progressive"). The Complaint also alleges that the Company concealed from investors that the Company was experiencing software issues that impacted Progressive's underwriting algorithm. In truth, Progressive had lost critical data in February 2015, which impacted the Company's ability to make loans and collect payments.

On September 18, 2017, the Court issued an order appointing Lead Plaintiff and Counsel and re-captioning the action as "In re Aaron’s, Inc. Securities Litigation." A consolidated Complaint was filed on October 27. Defendants filed a Motion to Dismiss the consolidated Complaint on December 15. On September 26, 2018, the Court issued an Order granting Defendants' Motion to Dismiss the consolidated Complaint.

Company & Securities Information

Defendant: Aaron's Inc.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: AAN
Company Market: New York SE
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.

First Identified Complaint

Employees' Retirement System of the City of Baton Rouge and Parish of East Baton Rouge, et al. v. Aaron's Inc., et al.

COURT: N.D. Georgia
DOCKET #: 17-CV-02270
JUDGE: Hon. Steve C Jones
DATE FILED: 06/16/2017
CLASS PERIOD START: 02/06/2015
CLASS PERIOD END: 10/29/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (Former New York)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (Former New York), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
  2. Caplan Cobb LLP
    75 Fourteenth Street, NE Suite 2750 , Caplan Cobb LLP , GA 30309
    404-596-5610 404-596-5604 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Complaint for Violations of the Federal Securities Laws 06/16/2017
2 U.S. District Court Civil Docket 06/22/2017
3 Order 09/18/2017

Reference Complaint

In re Aarons, Inc. Securities Litigation

COURT: N.D. Georgia
DOCKET #: 17-CV-02270
JUDGE: Hon. Steve C Jones
DATE FILED: 10/27/2017
CLASS PERIOD START: 02/06/2015
CLASS PERIOD END: 10/29/2015
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (New New York)
    1251 Avenue of the Americas, Bernstein Litowitz Berger & Grossmann LLP (New New York), NY 10020
    (212) 554-1400 (212) 554-1448 ·
  2. Labaton Sucharow LLP
    140 Broadway, Labaton Sucharow LLP, NY 10005
    212.907.0700 212.818.0477 · info@labaton.com
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Consolidated Complaint for Violations of the Federal Securities Laws 10/27/2017
2 U.S. District Court Civil Docket 09/26/2018
3 Order 09/26/2018
4 Judgment 09/26/2018
 
 

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