SAN DIEGO, Oct. 30, 2016 /PRNewswire/ -- Shareholder Rights Law Firm Johnson & Weaver, LLP continues its investigation of Rent-A-Center, Inc. (NASDAQ: RCII) concerning possible violations of federal securities laws. Rent-A-Center leases household durable goods to customers on a rent-to-own basis.
On July 28, 2016, Rent-A-Center stated that the roll-out of its new Point of Sales system, which caused problems and had a negative effect on its sales in the quarter, had been completed. However, on October 11, 2016, the Company disclosed that the Point of Sales system continues to experience issues and will negatively impact sales. On the news, Rent-A-Center shares closed down 28.8% on October 11, 2016.
Next on October 26, 2016, the Company announced third quarter 2016 results that fell far below estimates, the Company affirmed that the POS issues led to system outages and that it was "terribly disappointed in the results for the quarter, both top and bottom line".
If you have information that could assist in this investigation, including past employees and others, or if you are a Rent-A-Center shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
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SOURCE Johnson & Weaver, LLP