Harwood Feffer LLP Announces Investigation of EZCORP, Inc.
NEW YORK, Aug. 25, 2014 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of EZCORP, Inc. ("EZCORP" or the "Company") (NASDAQ: EZPW), concerning whether the board has breached its fiduciary duties to shareholders.
Between 2013 and 2014, certain of the Company's officers and directors made positive statements about the Company's prospects and financial results. However, on July 18, 2014, the voting shareholder of EZCORP's Class B voting common stock, MS Pawn Corporation, announced the removal of Paul Rothamel, director, President, and CEO; William Love, Chairman of the Board of Directors, and Joseph Beal, director.
Following the issuance of this announcement, on July 21, 2014, the value of EZCORP's common stock declined more than 12 percent.
A securities class action filed in the United States District Court for the Southern District of New York alleges that certain officers and directors at EZCORP issued a series of false and misleading statements to investors regarding the company's business and prospects. Specifically, these officers and directors misrepresented and/or failed to disclose that: (i) the initiatives that the company put in place failed to achieve the growth they had anticipated; and (ii) the Company's business units and it's investments were underperforming.
If you own EZCORP's shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Matthew M. Houston, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP