WAYNE, Pa., Dec. 19, 2014 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in United States District Court for the Southern District of Texas on behalf of investors who purchased or otherwise acquired Conns Inc. ("Conns" or the "Company") (NASDAQ: CONN) securities between September 2, 2014 through December 9, 2014, inclusive (the "Class Period").
Conn's shareholders may, no later than February 10, 2015, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Conn and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/conn.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that the Company was growing its business and financial results by utilizing underwriting and collections practices that weakened its portfolio quality and left it susceptible to substantial increases in bad debt. According to the complaint, following the Company's announcement on December 9, 2014 revealing that the forecasting of its credit operations had not been accurate, the value of Conn's stock declined significantly.
If you are a member of the class, you may, no later than February 10, 2015, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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SOURCE Ryan & Maniskas, LLP