World Acceptance Corp. (NASDAQ:WRLD) Investor Alert: Investigation of potential Wrongdoing
Filed Under: Business, Financial Markets | Posted: 04/08/2014 at 10:36AM
Comments | Region: California | United States
The Shareholders Foundation announces that an investigation on behalf of investors in World Acceptance Corp. (NASDAQ:WRLD) shares is ongoing concerning potential breaches of fiduciary duties.
Investors who are current long term stockholders in World Acceptance Corp. (NASDAQ:WRLD) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain World Acceptance Corp. (NASDAQ:WRLD officers and directors breached their fiduciary duties and potentially caused damages to the company and its shareholders.
On July 3, 2013, World Acceptance Corp. announced that it would be unable to timely file a complete Annual Report for the fiscal year that ended on March 31, 2013 with the Securities and Exchange Commission. Shares of World Acceptance Corp. (NASDAQ:WRLD) dropped from $88.71 per share on July 3, 2013, to $75.30 per share on July 9, 2013.
On March 13, 2014, World Acceptance Corp. announced that the Consumer Financial Protection Bureau (“CFPB”) issued a Civil Investigation Demand to the company on March 12, 2014. According to World Acceptance, the CFPB investigation is to determine “whether finance companies or other unnamed persons have been or are engaging in unlawful acts or practices in connection with the marketing, offering, or extension of credit” in violation of certain sections of the Consumer Financial Protection Act, the Truth in Lending Act, and other Federal consumer financial laws. Shares of World Acceptance fell from $97.96 per share on March 12, 2014, to $71.85 per share on March 26, 2014.
Those who purchased shares of certain World Acceptance Corp. (NASDAQ:WRLD) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego