Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into CURO Group Holdings Corp. (NYSE: CURO).
As a result of new payday lending regulations passed in Canada in 2016 and 2017, the Company began implementing a strategy to transition its Canadian business from single-pay loans to installment and “open-end” loan products, assuring investors that the transition would be slow and the negative effects minimal. Then, on October 24, 2018, the Company announced dismal 3Q2018 financial results, later revealing that it had greatly accelerated the pace of the transition, despite the known operational risks, which had greatly impacted its financial performance.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit for failing to disclose material information during the Class Period, violating federal securities laws. The court in that case has denied the Company’s motion to dismiss, allowing the case to move forward.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Microchip shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or fill out the form on this page.