NEW YORK, June 19, 2017 /PRNewswire/ -- Bernstein Litowitz Berger & Grossmann LLP ("BLB&G") today announced that it has filed a securities class action lawsuit on behalf of Employees' Retirement System of the City of Baton Rouge and Parish of East Baton Rouge against Aaron's, Inc., ("Aaron's" or the "Company") (NYSE: AAN) and certain of its senior executives. The action, which is captioned Employees' Retirement System of the City of Baton Rouge and Parish of East Baton Rouge v. Aaron's, Inc., No. 1:17-cv-02270-SCJ (N.D. Ga.), asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 on behalf of investors in Aaron's common stock during the time period of February 6, 2015 to October 29, 2015, inclusive (the "Class Period").
The Complaint alleges that during the Class Period, Aaron's misled investors with regard to its subsidiary, Progressive Finance Holdings, LLC ("Progressive"). The Complaint also alleges that the Company concealed from investors that the Company was experiencing software issues that impacted Progressive's underwriting algorithm. In truth, Progressive had lost critical data in February 2015, which impacted the Company's ability to make loans and collect payments.
If you wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than 60 days from today. Accordingly, the deadline for filing a motion for appointment as Lead Plaintiff is August 18, 2017. Any member of the proposed Class may move the Court to serve as Lead Plaintiff through counsel of their choice, or may choose to do nothing and remain a member of the proposed Class.
If you wish to discuss this Action or have any questions concerning this notice or your rights or interests, please contact Avi Josefson of BLB&G at 212-554-1493, or via e-mail at firstname.lastname@example.org. Information about BLB&G can be found online at www.blbglaw.com.
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SOURCE Bernstein Litowitz Berger & Grossmann LLP