An investigation for investors in PROG Holdings, Inc. (NYSE:PRG) shares over potential securities laws violations by PROG Holdings, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 09/26/2022 -- PROG Holdings, Inc. is under investigation over potential securities laws violations by PROG Holdings, Inc. in connection with certain financial statements.
Investors who purchased shares of PROG Holdings, Inc. (NYSE: PRG), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by PROG Holdings, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Draper, UT based PROG Holdings, Inc. operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. On August 25, 2022, Pennsylvania's Attorney General filed a lawsuit against PROG Holdings' Progressive Leasing unit for allegedly violating the Rental Purchase Agreement Act ("RPAA"), a law that requires companies to clearly disclose fees for rent-to-own financing. According to the lawsuit, agents of the Attorney General's Office visited multiple stores across the state that use Progressive Leasing to offer rental-purchase agreement to their customers. "The investigation revealed widespread non-compliance" with the RPAA's disclosure requirements by Progressive Leasing and its merchant partners, the Attorney General's Office said in a statement.
Those who purchased shares of PROG Holdings, Inc. (NYSE: PRG) have certain options and should contact the Shareholders Foundation.
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