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Case Status:    SETTLED
On or around 09/04/2020 (Date of last review)

Filing Date: December 05, 2018

According to the Complaint, CURO Group Holdings Corp. ("CURO" or the Company) provides short-term credit to underbanked consumers in the United States, the United Kingdom and Canada. In the United States, it operates under two principal brands, “Speedy Cash” and “Rapid Cash.” In the United Kingdom, CURO operates online as “Wage Day Advance” and “Juo Loans.” In Canada, the Company’s stores are branded “Cash Money” and it offers “LendDirect” installment loans online and at certain stores.

The Complaint alleges that during the Class Period, CURO and certain senior executives violated the Securities Exchange Act of 1934 by issuing false and misleading statements, including ongoing financial guidance, relating to CURO's efforts to transition its Canadian inventory of products from "Single-Pay Loans" to "Open-End Loans." In this regard, throughout the Class Period, Defendants materially misrepresented to investors the deleterious effect that the up-front loan loss provisioning in connection with the transition was having on the Company's financial performance and 2018 full-year Company guidance. The truth was revealed after the market closed on October 24, 2018, when the Company announced disappointing financial results for the third quarter of 2018 and substantially reduced its guidance for full-year fiscal 2018.

On March 13, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on May 31. Defendants filed a Motion to Dismiss the consolidated Complaint on August 15. On December 3, the Court issued an Order denying Defendants' Motion to Dismiss.

The parties entered into a Stipulation of Settlement on July 31, 2020. On September 4, the Court granted preliminary approval of the Settlement.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CURO
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.
COURT: D. Kansas
DOCKET #: 18-CV-02662
JUDGE: Hon. John W. Lungstrum
DATE FILED: 12/05/2018
CLASS PERIOD START: 07/31/2018
CLASS PERIOD END: 10/24/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Keller Lenkner LLC
  2. Rex A. Sharp P.A.
No Document Title Filing Date
COURT: D. Kansas
DOCKET #: 18-CV-02662
JUDGE: Hon. John W. Lungstrum
DATE FILED: 05/31/2019
CLASS PERIOD START: 04/27/2018
CLASS PERIOD END: 10/24/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cavanagh & O'Hara
  2. Robbins Geller Rudman & Dowd LLP (Boca Raton)
  3. Stueve Siegel Hanson LLP
No Document Title Filing Date
—Related District Court Filings Data is not available