|[June 13, 2014]
SHAREHOLDER ALERT: Brower Piven Encourages Investors With Losses Over $100,000 In Regional Management Corp. To Contact The Firm Before The Lead Plaintiff Deadline In Class Action Lawsuit
STEVENSON, Md. --(Business Wire)--
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been commenced in
the United States District Court for the Southern District of New York
on behalf of purchasers of Regional Management Corp. ("Regional
Management" or the "Company") (NYSE: RM) common stock pursuant to the
Company's public stock offerings on September 20, 2013 at $27.50 per
share and on December 5, 2013 at $31 per share (collectively, the
"Offerings"), and informs investors who wish to become proactively
involved in the litigation that they have until July 29, 2014 to seek
appointment as lead plaintiff.
If you have suffered a loss from investment in Regional Management
common stock purchased pursuant to the Company's Offerings, and would
like to learn more about this lawsuit and your ability to participate as
a lead plaintiff, without cost or obligation to you, please visit our
website at http://www.browerpiven.com/currentsecuritiescases.html.
You may also request more information by contacting Brower Piven either
by email at firstname.lastname@example.org
or by telephone at (410) 415-6616.
No class has yet been certified in the above action. Members of the
Class will be represented by the lead plaintiff and counsel chosen by
the lead plaintiff. If you wish to choose counsel to represent you and
the Class, you must apply to be appointed lead plaintiff no later than
July 29, 2014 and be selected by the Court. The lead plaintiff will
direct the litigation and participate in important decisions including
whether to accept a settlement and how much of a settlement to accept
for the Class in the action. The lead plaintiff will be selected from
among applicants claiming the largest loss from investment in Company
units during the Class Period.
The complaint accuses the defendants of violations of the Securities Act
of 1933 by virtue of the defendants' failure to disclose in the
Registration Statements and Prospectuses issued in connection with the
Offerings that the Company failed to adequately reserve for loan losses
in light of the Company's deteriorating underwriting standards that were
leading to a higher percentage of delinquencies and by virtue of those
documents misstating the Company's fourth quarter and fiscal 2012
financials. According to the complaint, as this information came to
light, the value of Regional Management shares declined significantly.
Attorneys at Brower Piven have extensive experience in litigating
securities and other class action cases and have been advocating for the
rights of shareholders since the 1980s. If you choose to retain counsel,
you may retain Brower Piven without financial obligation or cost to you,
or you may retain other counsel of your choice. You need take no action
at this time to be a member of the class.
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