NEW YORK, April 23, 2014 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the District of South Carolina, on behalf of all persons who purchased or otherwise acquired the securities of World Acceptance Corporation ("World Acceptance" or the "Company") (Nasdaq:WRLD) during the period from April 25, 2013 through March 12, 2014 (the "Class Period").
The Complaint sets forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges that the Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's loan practices do not abide by the Consumer Financial Protection Act and/or the Truth in Lending Act; (ii) the Company lacked adequate internal and financial controls; and (iii) as a result of the above, the Company's financial statements, assurances and expectations with regard to the Company's growth, operations and business prospects were false and misleading at all relevant times.
If you wish to serve as lead plaintiff, you must move the Court no later than June 23, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
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