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Case Status:    ONGOING    
On or around 05/12/2020 (Date of last review)

Filing Date: February 28, 2020

According to the Complaint, Aarons, Inc. operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers, and also engages in the sale, lease ownership, and specialty retailing of various products.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose: (i) that Aaron’s had inadequate disclosure controls, procedures, and compliance measures; (ii) that, consequently, the operations of Aaron’s Progressive and AB segments were in violation of the FTC Act and/or relevant FTC regulations; (iii) that, consequently, Aaron’s earnings from those segments were partially derived from unlawful business practices and were thus unsustainable; (iv) the full extent of Aaron’s liability regarding the FTC’s investigation into its Progressive and AB segments, Aaron’s noncompliance with the FTC Act, and the likely negative consequences of all the foregoing on the Company’s financial results; and (v) that, as a result, the Company’s public statements were materially false and misleading at all relevant times.

On May 12, 2020, this case was transferred to the Northern District of Georgia.

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.
COURT: S.D. New York
DOCKET #: 20-CV-01796
JUDGE: Hon. Louis L. Stanton
DATE FILED: 02/28/2020
CLASS PERIOD START: 03/02/2018
CLASS PERIOD END: 02/19/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
No Document Title Filing Date
COURT: N.D. Georgia
DOCKET #: 20-CV-02030
JUDGE: Hon. Louis L. Stanton
DATE FILED: 05/12/2020
CLASS PERIOD START: 03/02/2018
CLASS PERIOD END: 02/19/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
No Document Title Filing Date
—Related District Court Filings Data is not available