Zamansky LLC announces that it is investigating Credit Acceptance Corporation (NasdaqGS: CACC) (“Credit Acceptance” or the “Company”) for potential breaches of fiduciary duties by Credit Acceptance’s senior officers and board of directors. If you are a shareholder of Credit Acceptance who still holds your shares, please contact our firm for information.
It has recently emerged, after a lengthy investigation, that the Attorney General of the State of Mississippi has charged Credit Acceptance with being a “[p]redatory subprime auto lender,” seeking disgorgement and civil penalties for various unfair and deceptive practices. The Company has also seen a deterioration in credit quality, a rise in delinquencies, and a drop in the loan collection rate.
According to Jake Zamansky, investment fraud attorney, Credit Acceptance’s officers and directors owe the Company and its shareholders fiduciary duties. “The recent allegations against Credit Acceptance raise potential concern for investors,” Zamansky says. “Our law firm is investigating whether the officers and directors have breached their duties to Credit Acceptance and its shareholders.”
What Credit Acceptance Shareholders Can Do
If you are a current shareholder of Credit Acceptance who still holds your stock, please contact us to review or discuss your legal rights. You may, without obligation or cost to you, email jake@zamansky.com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading investment fraud law firm with experience handling securities, hedge fund, ERISA and other shareholder class action and derivative litigation. We are investment fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200213005832/en/
Copyright Business Wire 2020