Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aaron’s, Inc.
Glancy Prongay & Murray LLP (“GPM”) reminds investors of the August 18, 2017 deadline in the
class action lawsuit filed on behalf of investors who purchased Aaron’s, Inc.(“Aaron’s” or the “Company”) (NYSE: AAN) securities between February 6, 2015 and October 29, 2015, inclusive (the “Class Period”). Aaron’s
investors have until August 18, 2017 to file a lead plaintiff motion. To obtain information or participate in the class
action, please visit the Aaron’s case page on our website at www.glancylaw.com/case/aarons-inc.
On October 30, 2015, Aaron's disclosed to investors that in February 2015, Progressive Finance Holdings, LLC, the Company's most
profitable subsidiary, had lost two critical data feeds used to determine customers' leasing qualifications. Specifically, the loss
of data caused the Company to experience "higher bad debt expense and merchandise write offs" and delayed its "ability to identify
and begin collections on certain delinquent accounts."
On this news, the Company's share price fell $8.88, or 26.47%, to close at $24.67 on October 30, 2015.
The Complaint filed in this class action alleges that during the Class Period, Aaron’s violated federal securities laws by
making materially false and/or misleading public statements regarding the profitability of the Company’s Progressive Finance
Holdings, LLC (“Progressive”) subsidiary. The Company misled investors regarding Progressive concealing from investors that it was
experiencing software issues that impacted Progressive’s underwriting algorithm. In reality, Progressive lost critical data in
February 2015, which impacted the Company’s ability to make loans and collect payments.
Follow us for updates on Twitter: twitter.com/GPM_LLP.
If you purchased shares of Aaron’s during the Class Period you may move the Court no later than August 18, 2017 to
ask the Court to appoint you as lead. 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 you 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
Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to shareholders@glancylaw.com, or visit our
website at 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.
Glancy Prongay and Murray LLP, Los Angeles
Lesley Portnoy, 310-201-9150 or 888-773-9224
www.glancylaw.com
shareholders@glancylaw.com
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