openPR Logo
Press release

Lawsuit filed for Investors in shares of Aaron's, Inc. (NYSE: AAN)

03-02-2020 05:31 PM CET | Politics, Law & Society

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Aaron's, Inc. (NYSE: AAN) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Aaron's, Inc. (NYSE: AAN) shares over alleged securities laws violations.

The Shareholders Foundation announced that an investor, who purchased shares of Aaron's, Inc. (NYSE: AAN), filed a lawsuit over alleged Securities Laws violations by Aaron's, Inc. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Aaron's, Inc. (NYSE: AAN) have certain options and for certain investors are short and strict deadlines running. Deadline: April 28, 2020. NYSE: AAN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On July 26, 2018, during after-market hours, Aaron's filed a Quarterly Report on Form 10-Q with the Securities and Exchange Commission, reporting the Company's financial and operating results for the fiscal quarter ended June 30, 2018. That Quarterly Report disclosed that, in July 2018, Aaron's received civil investigative demands ("CIDs") from the FTC requesting the production of documents and answers to written questions to determine whether disclosures related to financial products offered by the Company through its AB and Progressive segments were in violation of the FTC Act.
On April 25, 2019, during pre-market hours, Aaron's filed another Quarterly Report on Form 10-Q with the SEC, reporting the Company's financial and operating results for the fiscal quarter ended March 31, 2019. That Quarterly Report disclosed that, in April 2019, Aaron's AB segment "received an unrelated CID from the FTC focused on certain transactions involving the purchase and sale of customer lease agreements, and whether such transactions violated the FTC Act."

On February 20, 2020, Aaron's, Inc. announced its financial results for the quarter ended December 31, 2019. Aaron's, Inc. reported that its Total Revenue rose from over $3.82 billion in 2018 to over $3.94 billion in 2019 and that its Net Income declined from $196.21 million in 2018 to $31.47 million in 2019. Among other results, Aaron's, Inc. reported that the Company's Progressive Leasing ("Progressive") segment had reached an agreement in principle with Federal Trade Commission ("FTC") staff regarding a Civil Investigative Demand from the FTC that Progressive received in July 2018. Aaron's, Inc. advised investors that "[u]nder the proposed agreement, which requires final approval by FTC Commissioners and the U.S. District Court for the Northern District of Georgia, Progressive will make a payment of $175 million and enhance certain compliance-related activities, including monitoring, disclosure and reporting requirements."

Shares of Aaron's, Inc. (NYSE: AAN) declined from $64.11 per share on January 29, 2020 to as low as $38.20 per share on February 28, 2020.

The plaintiff claims that between March 2, 2018, and February 19, 2020, the defendants made false and/or misleading statements and/or failed to disclose that Aaron's had inadequate disclosure controls, procedures, and compliance measures, that, consequently, the operations of Aaron's Progressive and AB segments were in violation of the FTC Act and/or relevant FTC regulations, that, consequently, Aaron's earnings from those segments were partially derived from unlawful business practices and were thus unsustainable, that the full extent of Aaron's liability regarding the FTC's investigation into its Progressive and AB segments, Aaron's noncompliance with the FTC Act, and the likely negative consequences of all the foregoing on the Company's financial results, and that, as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Aaron's, Inc. (NYSE: AAN) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit filed for Investors in shares of Aaron's, Inc. (NYSE: AAN) here

News-ID: 1951582 • Views: 327

More Releases from Shareholders Foundation

Investgiation for Long-Term NASDAQ: KINS Investors announced over possible Wrong …
An investigation on behalf of current long-term investors in shares of Kingstone Companies, Inc. (NASDAQ: KINS) was announced over potential breaches of fiduciary duties by certain officers and directors at Kingstone Companies, Inc. Investors who purchased shares of Kingstone Companies, Inc. (NASDAQ: KINS) and currently hold any of those Kingstone Companies, Inc. (NASDAQ: KINS shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 -
Investigation for NYSE:FCAU Investors announced over possible Wrongdoing at Fiat …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors of Fiat Chrysler Automobiles N.V.. Investors who are current long term investors in Fiat Chrysler Automobiles N.V. (NYSE: FCAU) shares, 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 for current long term investors in NYSE: FCAU stocks follows a lawsuit filed against Fiat
Investigation for Investors in shares of Domino's Pizza, Inc. (NYSE: DPZ) over p …
An investigation on behalf of current long-term investors in shares of Domino's Pizza, Inc. (NYSE: DPZ) was announced over potential breaches of fiduciary duties by certain officers and directors at Domino's Pizza, Inc. Investors who purchased shares of Domino's Pizza, Inc. (NYSE: DPZ) and currently hold any of those NYSE: DPZ shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by
Deadline Lawsuit for Investors in shares of CPI Aerostructures, Inc. (NYSE: CVU) …
The Shareholders Foundation announced that a deadline is coming up on April 24, 2020in the lawsuit filed for certain investors of CPI Aerostructures, Inc. (NYSE: CVU) over alleged securities laws violations by CPI Aerostructures, Inc. Investors who purchased shares of CPI Aerostructures, Inc. (NYSE: CVU) have certain options and there are strict and short deadlines running. Deadline: April 24, 2020. NYSE: CVU stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or

All 5 Releases


More Releases for Aaron

Plastic Polymer Market 2017 -DuPont, SABIC, Indorama, Schulman, Aaron Industries
Apex Market Researchs, recently published a detailed market research study focused on the "Plastic Polymer Market" across the global, regional and country level. The report provides 360° analysis of "Plastic Polymer Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Plastic Polymer industry, and estimates the future trend of Plastic Polymer market
DW Simpson Names Aaron Benton Managing Partner
PRESS RELEASE FOR IMMEDIATE RELEASE April 29, 2014 Chicago, IL – April 29, 2014 – DW Simpson Global Actuarial and Analytics Recruitment promoted Aaron Benton to Managing Partner. Benton will be responsible for overseeing the strategic and everyday recruitment operations of the firm,
Aaron Bills Named Senior Member of Information Security Group
ISSA’s Northern Virginia Chapter Recognizes 3Delta Systems’ Founder and COO during National Cyber Security Awareness Month CHANTILLY, Va. – October 22, 2012 – Aaron Bills, founder and chief operating officer of 3Delta Systems, Inc.® (3DSI) http://www.3DSI.com, has been named a Senior Member of the Information Systems Security Association (ISSA). He received the recognition at ISSA’s Northern Virginia chapter meeting on October 18. Bills, whose distinguished career spans 13 years in the
Quest CE promotes Aaron Thompson to Vice President of Finance
Quest CE, premier provider of insurance continuing education and FINRA firm element training, is excited to announce the promotion of Aaron Thompson to Vice President of Finance. Thompson will continue to oversee not only Quest CE’s finances and organizational practices, but will be responsible for the budget, spending expenditures, and the integrity of funds, securities, and valuable records and information. Before representing some of the top financial companies in the
EDGEMERE NAMES AARON DENOVELLIS ASSOCIATE EXECUTIVE DIRECTOR
Edgemere senior living community has named Aaron DeNovellis associate executive director. The announcement was made by John Falldine, managing director of Edgemere. “Aaron brings a wealth of experience and a deep understanding of the importance of quality of life to his role as associate executive director,” said Falldine. “His strong leadership abilities, extensive health care experience and dedication to residents will ensure that the level of service at Edgemere
Independent Publisher Aqueous Books Releases New Book By Aaron Polson
Aqueous Books, an independent publishing company in Pensacola, Florida, is set to release its first 2011 publication. "The Saints Are Dead" is a collection of short stories by horror writer Aaron Polson. The stories, published under the Danse Macabre imprint, blur the lines between fiction genres as they move from horror to science fiction to fantasy. The author, Aaron Polson, currently lives in Lawrenceville, Kansas with his wife and two