INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Aaron's, Inc. (AAN) Investors
March 05, 2020 at 11:00 AM EST
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Aaron’s, Inc. (“Aaron’s” or the “Company”) (NYSE: AAN) securities between March 2, 2018 and February 19, 2020, inclusive (the “Class Period”). Aaron’s investors have until April 28, 2020 to file a lead plaintiff motion.
Investors suffering losses on their Aaron’s investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On February 20, 2020, Aaron’s disclosed that its Progressive segment had reached an agreement in principle with the U.S. Federal Trade Commission (“FTC”) regarding the July 2018 civil investigative demand, which had sought to determine whether disclosures related to the Company’s financial products were in violation of the FTC Act. The proposed agreement required Aaron’s to “make a payment of $175 million and enhance certain compliance-related activities, including monitoring, disclosure and reporting requirements.”
On this news, the Company’s share price fell $10.70 per share, or over 19%, to close at $45.45 per share on February 20, 2020, thereby injuring investors.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) that Aaron’s had inadequate disclosure controls, procedures, and compliance measures; (2) that, consequently, the operations of Aaron’s Progressive and AB segments were in violation of the FTC Act and/or relevant FTC regulations; (3) that, consequently, Aaron’s earnings from those segments were partially derived from unlawful business practices and were thus unsustainable; (4) the full extent of Aaron’s liability regarding the likely negative consequences of all the foregoing on the Company’s financial results; and (5) that, as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you purchased Aaron’s securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.