NEW YORK, April 24, 2015 /PRNewswire/ -- Lawyers at Dunnam & Dunnam are investigating claims against certain officers and directors of Regional Management Corp. (RM). Concerned RM shareholders who have owned shares in the company prior to May 2, 2013 are encouraged to contact Hamilton Lindley by clicking here.
The investigation surrounds lawsuit allegations that Regional Management has been slow to disclose significant deficiencies in the running of their company. The shareholder lawsuit claims that Regional Management changed the way it charged off accounts that were delinquent. In 2013, Regional Management did not charge off accounts until they became past due by "no later than 365 days". In the third quarter of 2013, Regional Management changed the "time-based" element of its charge-off policy to a policy that was more "in step with industry practice" (no later than 180 days past due). The law firm's investigation seeks to determine whether shareholder action could restore money and corporate controls at Regional Management so that the company improves stockholder value.
Securities lawyers at Dunnam & Dunnam have significant experience enforcing shareholder rights against companies accused of wrongdoing. If you held shares in Regional Management Corp. prior to May 2, 2013, or have information about this situation, please contact lawyer Hamilton Lindley at [email protected], call toll free at (844) 702-2990 or visit http://www.dunnamlaw.com/RM.
SOURCE Dunnam & Dunnam