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Investor Alert: EZCORP Inc (NASDAQ:EZPW) faces Investigation concerning potential Violations of Securities Laws

The Shareholders Foundation announces that an investigation on behalf of investors of EZCORP Inc (NASDAQ:EZPW) shares was initiated over potential securities laws violations by EZCORP Inc in connection certain financial statements.

Investors who purchased shares of EZCORP Inc (NASDAQ:EZPW) 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 EZCORP Inc (NASDAQ:EZPW) concerning whether a series of statements by EZCORP Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On November 7, 2013, EZCORP Inc (NASDAQ:EZPW) reported its 2013 financial results. EZCORP Inc reported that its Total Revenue rose from $975.12 million for the 12 months period that ended on Sept. 30, 2012 to over $1.01 billion for the 12 months period that ended on September 30, 2013 and that its respective Net Income declined from $143.71 million to $34.08 million.

Shares of EZCORP Inc (NASDAQ: EZPW) declined from over $32 per share in March 2012 to $9.35 per share in late January 2014.

On July 18, 2014, MS Pawn Corporation, the voting shareholder of EZCORP Inc’s Class B voting common stock, announced the removal from EZCORP Inc of Paul Rothamel as director, President and Chief Executive Officer, William Love as Chairman of the Board of Directors, and Joseph Beal as director.

On August 22, 2014, a lawsuit was filed against EZCorp Inc over alleged securities laws violations. The plaintiff claims that defendants made allegedly false and/or misleading statements and/or failed to disclose that the implementation of certain strategic and growth initiatives was less successful than represented, that certain of EZCORP Inc’s business units and investments were not performing as well as represented, and that as a result of the above, EZCORP Inc’s statements about its business and operations were allegedly materially false and misleading at all relevant times.

Shares of EZCORP Inc (NASDAQ:EZPW) declined from over $32 per share in March 2012 to as low as $8.65 per share in October 2014.

On November 6, 2014, EZCORP Inc reported its 2014 financial results. EZCORP Inc reported that its Total Revenue rose from $980.12 million for the 12 months period that ended on Sept. 30, 2013 to $988.53 million for the 12 months period that ended on Sept. 30, 2014 and that its Net Income declined from $34.08 million for the 12 months period that ended on Sept. 30, 2013 to a Net Loss of $45.74 million for the 12 months period that ended on Sept. 30, 2014.

Shares of EZCORP Inc (NASDAQ:EZPW) grew from under $9 per share in October 2014 to as high as $12.25 per share in January 2015.

On April 30, 2015, EZCORP Inc announced that it “will delay its earnings release for the second quarter of fiscal 2015 (ended March 31, 2015), due to an ongoing review of certain elements of its Grupo Finmart loan portfolio, which is not yet completed. EZCORP Inc said that it identified certain errors in a portion of the Grupo Finmart loan portfolio that may impact current and historical amounts of loan reserves and interest income, and is conducting a more thorough review to quantify the errors and assess the associated processes and controls and that it will announce its second quarter earnings upon completion of that review. Shares of EZCORP Inc (NASDAQ:EZPW) declined on May 1, 2015, to as low as $7.79 per share.

On May 15, 2015, NASDAQ:EZPW shares closed at $9.12 per share.

Those who purchased shares of EZCORP Inc (NASDAQ:EZPW) 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

John:
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