San Diego, CA -- (SBWire) -- 10/24/2016 --An investigation on behalf of current long-term investors in shares of Rent-A-Center Inc (NASDAQ:RCII) was announced over potential breaches of fiduciary duties by certain directors at Rent-A-Center Inc.
Investors who purchased shares of Rent-A-Center Inc (NASDAQ:RCII) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain Rent-A-Center directors breached their fiduciary duties and caused damage to the company and its shareholders.
Rent-A-Center Inc reported that its annual Total Revenue rose from over $3.15 billion in 2014 to over $3.27 billion in 2015 while its Net Income of $96.42 million in 2014 declined to a Net Loss of $866.63 million in 2015.
On July 28, 2016, Rent-A-Center Inc announced that issues with its new Point-of-Sale ("POS") system were fixed and alleviated.
On October 11, 2016, Rent-A-Center Inc announced it was experiencing issues with the POS system which would have a negative effect on its sales. When this news was announced, shares of Rent-A-Center fell in value.
Shares of Rent-A-Center Inc (NASDAQ:RCII) declined from $34.18 per share in late 2014 to as low as $8.70 per share on October 14, 2016.
On October 21, 2016, NASDAQ:RCII shares closed at $9.50 per share.
Those who purchased shares of Rent-A-Center Inc have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
Investigation for Investors in Shares of Rent-a-Center Inc (RCII) Announced
An investigation on behalf of investors in Rent-A-Center Inc (NASDAQ:RCII) shares over potential wrongdoing at Rent-A-Center Inc was announced and NASDAQ:RCII stockholders should contact the Shareholders Foundation.