Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Southern District of New York on behalf of shareholders of Aaron’s, Inc. who purchased shares between March 2, 2018 and February 19, 2020.
Aaron’s and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On February 20, 2020, the Company disclosed that an agreement in principle had been made with its Progressive segment and the Federal Trade Commission regarding the regulator’s investigation that, if approved, would require the Company to “make a payment of $175 million and enhance certain compliance-related activities, including monitoring, disclosure and reporting requirements.”
On this news, the price of Aaron’s shares plummeted.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until April 28, 2020 to request that the court appoint them lead plaintiff.