San Diego, CA -- (SBWIRE) -- 02/23/2012 -- The Shareholders Foundation announces that an investigation for stockholders of NASDAQ:AACC shares was launched over potential breaches of fiduciary duties by certain officers and directors at Asset Acceptance Capital Corporation in connection with potentially false and misleading statements.
Investors who purchased shares of Asset Acceptance Capital Corp. (NASDAQ:AACC) and currently hold those NASDAQ:AACC shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on potential claims by purchasers of the securities of NASDAQ:AACC. Specifically, the investigation concerns whether Acceptance Capital Corporation issued certain statements regarding its business, its prospects and its operations that were potentially materially false and misleading at the time they were made.
Asset Acceptance Capital Corp. (NASDAQ:AACC) shares traded during 2009 as high as $9.75 per share and fell in 2010 to as low as $3.69 per share.
However, NASDAQ: AACC stocks then regained some value until the end of 2010 and closed that year at slightly below $6 per share.
During January 2011 NASDAQ:AACC stocks climbed to almost $6.50 per share but then lost again value and fell to as low as $2.86 in November.
Since then NASDAQ:AACC shares regained again slightly value and traded recently at slightly above $4.50 per share, roughly half of its high trading price in 2009.
Recently Asset Acceptance Capital Corp. (NASDAQ: AACC) announced that its subsidiary, Asset Acceptance, LLC, has resolved an Federal Trade Commission (“FTC”) investigation of the Company’s practices. Asset Acceptance Capital Corporation said that as part of the consent decree Asset Acceptance, LLC has agreed to undertake industry-leading consumer protection practices and to pay a civil penalty of $2.5 million.
Those who purchased shares of Asset Acceptance Capital Corp. (NASDAQ:AACC) and currently hold those NASDAQ:AACC shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego