NEW YORK, Oct. 27, 2016 /PRNewswire-USNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Rent-A-Center, Inc. ("Rent-A-Center" or the "Company") (NASDAQ: RCII) (ISIN: US76009N1000). Investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Rent-A-Center and certain of its officers and/or directors have violated the federal securities laws.
On October 11, 2016, Rent-A-Center announced that the Company was experiencing issues with its point-of-sale systems ("POS") that would negatively impact Rent-A-Center's sales. On this news, Rent-A-Center stock fell $3.70, or 28.73%, to close at $9.18. Then, on October 26, 2016, Rent-A-Center announced financial and operating results for the third quarter of 2016 that fell significantly below estimates, citing, in part, POS issues that had caused system outages.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP