NEW YORK, Feb. 25, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of World Acceptance Corporation (“World Acceptance” or the “Company”) ( WRLD). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether World Acceptance and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On June 14, 2017, post-market, World Acceptance revealed that it would delay the filing of its annual report on Form 10-K with the U.S. Securities and Exchange Commission (“SEC”), citing an internal probe of its Mexico operations. Commissioned in March, the investigation focuses on the legality under the U.S. Foreign Corrupt Practices Act and local laws of certain payments related to loans, maintenance of books and records, and treatment of compensation matters for certain employees. On this news, the Company’s share price fell $10.30, or 12.36%, to close at $73.00 on June 15, 2017.
On August 8, 2017, post-market, the Company disclosed that the SEC had “issued a formal order of investigation” in connection with its internal probe of its Mexico operations. On this news, World Acceptance’s share price fell $1.74, or 2.16%, to close at $78.68 on August 9, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby