NEW YORK, Oct. 20, 2016 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Rent-A-Center, Inc. ("Rent-A-Center" or the "Company") (NasdaqGS: RCII).
The investigation focuses on whether the Company and its executives violated federal securities laws by misrepresenting the ability of the Company to resolve previously reported issues with its new Point-of-Sale ("POS") system.
On July 28, 2016, Rent-A-Center management noted that POS system issues were fixed and issues on implementing the POS system had been alleviated. However, on October 11, 2016, the Company reversed its previous statements by indicating that the POS system continues to experience issues, which will negatively impact sales. As a result, the value of Rent-A-Center stock has significantly declined.
Request more information now by clicking here: www.faruqilaw.com/RCII. There is no cost or obligation to you.
If you invested in Rent-A-Center stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/RCII. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Rent-A-Center's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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FloorNew York, NY 10017Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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