The Shareholders Foundation announces that an investigation on behalf of investors of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) shares was launched over potential securities laws violations by Consumer Portfolio Services and certain of its directors and officers.
Investors who purchased shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) concerning whether a series of statements by Consumer Portfolio Services regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) grew from $1.00 per share in early y2012 to as high as $11.74 per share in March 2013. Consumer Portfolio Services, Inc. reported that its annual Total Revenue rose from $155.19 million in 2010 to $255.78 million in 2013 and that its Net Loss of $33.18 million in 2010 turned into a Net Income of $21 million in 2013.
On January 22, 2015, Consumer Portfolio Services, Inc. disclosed that on January 14, 2015 it received a civil investigative subpoena from the U.S. Department of Justice pursuant to the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. Consumer Portfolio Services, Inc said that the subpoena directs Consumer Portfolio Services, Inc to produce documents relating to its subprime automotive finance and related securitization activities. Shares of Consumer Portfolio Services, Inc declined to as low as $5.29 per share on January 29, 2015.
On February 9, 2015 NASDAQ:CPSS shares closed at $6.33 per share.
Those who purchased shares of Consumer Portfolio Services, Inc. (NASDAQ:CPSS) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com