WILMINGTON, Del., July 23, 2015 /PRNewswire/ -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of EZCORP, Inc. (NASDAQ GS: EZPW)?
- Did you purchase your shares between October 27, 2014 and July 16, 2015, inclusive?
- Did you lose money in your investment in EZCORP, Inc.?
- Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Western District of Texas on behalf of all persons or entities that purchased the common stock of EZCORP, Inc. ("EZCORP" or the "Company") (NASDAQ GS: EZPW) between October 27, 2014 and July 16, 2015, inclusive (the "Class Period"), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the "Complaint").
If you purchased shares of EZCORP during the Class Period, or purchased shares prior to the Class Period and still hold EZCORP, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to email@example.com; or at: http://rigrodskylong.com/investigations/ezcorp-inc-ezpw.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) the Company improperly recognized particular structured assets sales; (2) the Company improperly classified certain loans; (3) as a result, the Company overstated its gains on assets sales and accrued interest revenue; (4) as such, the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles; (5) the Company lacked adequate internal and financial controls; and (6) as a result of the foregoing, defendants' statements were materially false and misleading at all relevant times. As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on July 17, 2015, the Company announced that it would restate its financial statements for fiscal 2014 (including the interim periods within that year) and the first quarter of fiscal 2015, and that the previously issued financial statements for those periods should no longer be relied upon.
On this news, shares in EZCORP dropped nearly 4%, closing at $6.48 per share on July 17, 2015, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than September 18, 2015. A lead plaintiff is a representative party acting 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. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.
Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE Rigrodsky & Long, P.A.