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Case Status:    ONGOING    
On or around 06/17/2020 (Date of last review)

Filing Date: May 15, 2020

According to the Complaint, Conn's Inc. is a specialty retailer that sells branded durable consumer goods. Conn’s has two reportable segments: (i) retail, which includes product categories such as furniture, home appliance, consumer electronics, and home office; and (ii) credit, which includes the Company’s in-house consumer credit programs.

The Complaint 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, the Complaint alleges Defendants failed to disclose to investors: (1) that Conn’s was experiencing an increase in first payment defaults and 60-plus day delinquencies; (2) that, as a result, Conn’s was reasonably likely to record an increase to its provision for bad debts; (3) that the Company made certain underwriting adjustments, including tightening its standards for new customers and online applicants; (4) that, as a result, the Company’s same-store sales would be adversely impacted; and (5) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Furniture & Fixtures
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CONN
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: S.D. Texas
DOCKET #: 20-CV-01705
JUDGE: Hon. David Hittner
DATE FILED: 05/15/2020
CLASS PERIOD START: 09/03/2019
CLASS PERIOD END: 12/09/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP
  2. Kendall Law Group, PLLC
  3. Law Offices of Howard G. Smith
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available