Press release
Credit Acceptance Corporation (NASDAQ: CACC) Investor Notice: Investigation over possible Violations of Securities Laws
An investigation for investors in Credit Acceptance Corporation (NASDAQ: CACC) shares over potential securities laws violations.
Investors who purchased shares of Credit Acceptance Corporation (NASDAQ: CACC), 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 Credit Acceptance Corporation (NASDAQ: CACC) concerning whether a series of statements by Credit Acceptance Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Southfield, MI based Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States.
On March 25, 2020, a report was published highlighting the steep upward trend in subprime auto loan delinquencies, stating that "[o]ver the years [Credit Acceptance] has been taking on riskier and lower return loans and hiding the true volatility of its earnings through aggressive accounting," and questioning the accuracy of the reported book value of Credit Acceptance's loans.
Then on April 20, 2020, Credit Acceptance announced that it would not timely file its quarterly report for the period ended March 31, 2020.
Shares of Credit Acceptance Corporation (NASDAQ: CACC) declined on April 22, 2020 to $241.54 per share.
Those who purchased shares of Credit Acceptance Corporation (NASDAQ: CACC) 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.
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