NEW YORK, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of Kansas on behalf of investors that purchased or otherwise acquired CURO Group Holdings Corp. (“CURO” or the “Company”) (NYSE: CURO) securities between July 31, 2018 and October 24, 2018, inclusive (the ''Class Period'').
Investors who have incurred losses in the shares of CURO Group Holdings Corp. are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of CURO Group Holdings Corp., you may, no later than February 4, 2019, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in CURO Group Holdings Corp.
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The complaint filed in this class action alleges that throughout the class period Defendants materially misrepresented to investors the negative effect that the up-front loan loss provisioning in connection with a transition of its Canadian inventory to Open-Ended loans was having on the Company’s financial performance and 2018 full-year Company guidance.
Because CURO’s Open-End Loans had a materially lower lending yield than the Single-Pay Products, and the portfolio of Open-End Loans was still immature and unseasoned, the up-front loan loss provisioning for these loans was far greater than publicly revealed (and the yield far lower). This caused the Company to materially overstate its 2018 projected financial results, including CURO’s adjusted EBITDA, net revenue and operating earnings.
On October 24, 2018, CURO revealed disappointing financial third quarter 2018 financial results and substantially reduced its guidance for full-year fiscal 2018. On this news, CURO’s share price fell $7.69, or nearly 34%, to close at $15.18 per share on October 25, 2018.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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