NEW YORK, May 31, 2017 /PRNewswire/ -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national shareholder and consumer rights litigation firm, announces the commencement of an investigation into OneMain Holdings, Inc. (NYSE: OMF) ("OneMain" or the "Company") to determine whether OneMain's officers and directors breached their fiduciary duties owed to the Company and its shareholders. If you are a current OneMain shareholder, you are encouraged to contact Scott+Scott for additional information.
OneMain is a consumer finance company that provides consumer finance and insurance products and services as well as personal loans secured by consumer household goods, and other personal property, unsecured loans, and loans secured by subordinate residential real estate mortgages. In November 2015, OneMain announced that it would be merging with Springleaf Holdings, Inc. ("Springleaf"), after obtaining approval from the Department of Justice. OneMain subsequently touted in press releases and in filings with the U.S. Securities and Exchange Commission ("SEC") the projected net income to be achieved by the Company following, and in large part due to, the combination of OneMain Financial with Springleaf, and the purported synergies achieved by the combined company.
On November 7, 2016, the Company drastically lowered its guidance for its consumer insurance adjusted EPS and its receivables growth for 2016 and 2017. On this news, shares of OneMain common stock plummeted approximately 38%, from $27.57 on November 7, 2016, to $16.90 on November 8, 2016.
What You Can Do
If you are a current OneMain shareholder, you may have legal claims against OneMain's officers and directors. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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SOURCE Scott+Scott, Attorneys at Law, LLP