NEW YORK, Aug. 13, 2015 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at World Acceptance, Corp. ("World Acceptance" or the "Company") (NasdaqGS: WRLD).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that the Consumer Financial Protection Bureau ("CFPB") has been investigating the Company's marketing, offering, and extension of credit practices for more than a year.
Specifically, after market hours on August 10, 2015, the Company disclosed that the CFPB was expected to file a lawsuit against the company for violations of the Consumer Financial Protection Act of 2010 with respect to its marketing and lending practices.
After this disclosure, World Acceptance's share price fell from a closing price of $51.80 per share on August 10, 2015 to a closing price of $34.00 per share on August 11, 2015, a drop of $19.50 per share or 37.6%.
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If you invested in World Acceptance stock or options between April 29, 2014 and August 10, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/WRLD. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding World Acceptance's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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Attn: Richard Gonnello, Esq.
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