Deadline in Lawsuit for Investors in Shares of Rent-a-Center Inc (NASDAQ:RCII) on February 21, 2017 Coming Up
A Deadline is coming up on February 21, 2017 in the lawsuit for investors in Rent-A-Center Inc (NASDAQ:RCII) and NASDAQ:RCII stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWire) -- 02/06/2017 --A deadline is coming up on February 21, 2017 in the lawsuit filed for investors of Rent-A-Center Inc (NASDAQ:RCII over alleged securities laws violations by Rent-A-Center.
Investors who purchased shares of Rent-A-Center Inc (NASDAQ:RCII) have certain options and there are strict and short deadlines running. Deadline: February 21, 2017. NASDAQ:RCII stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Eastern District of Texas the plaintiff alleges on behalf of purchasers of Rent-A-Center Inc (NASDAQ:RCII) common shares between July 27, 2015, and October 10, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between July 27, 2015, and October 10, 2016, the Defendants failed to disclose that Rent-A-Center could not properly implement its new point of sale system ("POS"), that, the POS was performing extremely poorly, including several instances where the system suffered complete outages, that as a result, the Company's Acceptance Now credit system could not be implemented properly, that the Company could not meet revenue and profitability guidance provided to investors, that, as such, the Company would need to revise its prior guidance, and that, as a result of the foregoing, Defendants' statements about Rent-A-Center's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
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.
On December 23, 2016, NASDAQ:RCII shares closed at $11.54 per share.
Those who purchased shares of Rent-A-Center Inc have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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View this press release online at: http://rwire.com/767467