An investigation for investors in Credit Acceptance Corp. (NASDAQ:CACC) shares over potential securities laws violations by Credit Acceptance was announced and NASDAQ:CACC stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 02/28/2017 -- Credit Acceptance Corp is under investigation over potential securities laws violations. The investigation was announced for investors in NASDAQ:CACC shares in connection certain financial statements made by Credit Acceptance Corp.
Investors who purchased shares of Credit Acceptance Corp. (NASDAQ:CACC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm focuses on whether certain statements by Credit Acceptance Corp. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On December 4, 2014, Credit Acceptance Corp. received a civil investigative demand from the Office of the Attorney General of the Commonwealth of Massachusetts relating to the origination and collection of non-prime auto loans in Massachusetts.
On December 9, 2014, Credit Acceptance Corp. received a civil investigative subpoena from the U.S. Department of Justice pursuant to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 directing us to produce certain information relating to subprime automotive finance and related securitization activities.
On September 18, 2015, we received a subpoena from the Attorney General of the State of New York, Civil Rights Bureau relating to the Company's origination and collection of Consumer Loans in the state of New York.
On March 18, 2016, Credit Acceptance Corp. received a subpoena from the Attorney General of the State of Maryland, relating to the Company's repossession and sale policies and procedures in the state of Maryland.
On November 7, 2016, Credit Acceptance Corp. received a civil investigative demand from the Federal Trade Commission seeking information on the Company's polices, practices and procedures in allowing car dealers to use GPS Starter Interrupters on consumer vehicles.
Shares of Credit Acceptance Corp. (NASDAQ:CACC) closed on February 27, 2017, at $203.12 per share.
Those who purchased shares of Credit Acceptance Corp. 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