NEW YORK, NY / ACCESSWIRE / August 11, 2017 / Pomerantz LLP is investigating claims on behalf of investors of Aaron's, Inc. ('Aaron's' or the 'Company') (NYSE: AAN). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 9980.
The investigation concerns whether Aaron's and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On October 30, 2015, Aaron's disclosed to investors that nine months earlier, in February 2015, Progressive Finance Holdings, LLC, the Company's most profitable subsidiary, had lost two critical data feeds used to determine customers' leasing qualifications. Specifically, the loss of data caused the Company to experience 'higher bad debt expense and merchandise write offs' and delayed its 'ability to identify and begin collections on certain delinquent accounts.'
On these disclosures, the Company's share price fell $8.88, or 26.47%, to close at $24.67 on October 30, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, 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.
SOURCE: Pomerantz LLP