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INVESTOR ALERT: Glancy Binkow & Goldberg LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit against Conn's, Inc.
[January 27, 2015]

INVESTOR ALERT: Glancy Binkow & Goldberg LLP Reminds Investors of the Lead Plaintiff Deadline in the Class Action Lawsuit against Conn's, Inc.


Glancy Binkow & Goldberg LLP reminds investors of Conn's, Inc. ("Conn's" or the "Company") (NASDAQ:CONN) that purchasers of Conn's securities between September 2, 2014 and December 9, 2014, inclusive (the "Class Period"), have until February 10, 2015, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Southern District of Texas.

Conn's operates specialty retail locations in Texas, Louisiana, Arizona, Oklahoma and New Mexico, offering home appliance, furniture and mattress, consumer electronics and home office products. The Complaint alleges that defendants made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company was increasing its business and financial results by using underwriting and collections practices that, despite defendants' statements to the cotrary, weakened the Company's portfolio quality and left it vulnerable to substantial increases in bad debt; (2) the Company was experiencing rising delinquencies at a substantially different rate than it was representing; (3) the Company's credit segment practices substantially threatened the Company's financial performance; and (4), as a result of the foregoing, the Company's statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.



On December 9, 2014, the Company reported a net loss for its fiscal 2015 third quarter, resulting primarily from significantly higher than expected losses in its credit segment. According to the Company, delinquency rates have increased, and provisions for bad debt for the three months ended October 31, 2014, were $72 million - an increase of $49.4 million from the same period in the prior year.

The Company further announced that its board of directors established a Credit Risk Compliance Committee and that the Company's chief financial officer was leaving the Company. In addition, the Company retracted its full-year earnings guidance, pending its ongoing review of strategic alternatives and the oversight initiatives.


Following this news, Conn's shares dropped more than 40%, or $14.26 per share, to close at $20.83 per share on December 9, 2014, on unusually heavy volume.

If you are a member of the Class described above, you may move the Court no later than February 10, 2015, to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Casey Sadler, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, at (310) 201-9150, by e-mail to [email protected], or visit our website at http://www.glancylaw.com. If you inquire by email, please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


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