CREDIT ACCEPTANCE INVESTOR ALERT: Shareholder Lawsuit Filed

BOSTON, MA / ACCESSWIRE / October 21, 2020 / Thornton Law Firm alerts investors that a shareholder class action lawsuit has been filed on behalf of shareholders of Credit Acceptance Corporation (NASDAQ:CACC). Investors who purchased CACC common stock between November 1, 2019, and August 28, 2020, that are interested in participating in the lawsuit as a lead plaintiff are encouraged to visit www.tenlaw.com/cases/CreditAcceptance. Investors may also contact Thornton Law Firm at investors@tenlaw.com, or call 617-531-3917.

FOR MORE INFORMATION, VISIT: www.tenlaw.com/cases/CreditAcceptance

The lawsuit alleges violations of the federal securities laws on behalf of investors who purchased Credit Acceptance common stock during the class period. The Private Securities Litigation Reform Act of 1995 allows any investor who purchased the securities at issue in the case during the Class Period to seek appointment as a lead plaintiff in the lawsuit. A lead plaintiff acts on behalf of all other investor class members in managing theclass action and can select a law firm of their choice to litigate the lawsuit. Serving as a lead plaintiff does not impact an investor's share in any potential recovery. If investors choose to take no action, they can remain an absent class member. Investors who wish to serve as a lead plaintiff and would like to learn more about the lead plaintiff process are encouraged to contact the Thornton Law Firm's shareholder rights team at www.tenlaw.com/cases/CreditAcceptance, by email at investors@tenlaw.com, or calling 617-531-3917. Interested Credit Acceptance shareholders have until December 1, 2020, to apply to be a lead plaintiff. The class has not yet been certified. Until certification occurs, investors are not represented by an attorney.

FOR MORE INFORMATION: www.tenlaw.com/cases/CreditAcceptance

The shareholder lawsuit alleges that Credit Acceptance employed a fraudulent scheme whereby it knowingly provided consumer auto loans that it knew could not be repaid and consistently harmed consumers for its own financial benefit. It is alleged that the truth about the Company's predatory and illegal business practices was revealed on August 28, 2020, when the Massachusetts Attorney General filed the Mass AG Complaint alleging that Credit Acceptance has, for years, been making unfair and deceptive automobile loans to thousands of Massachusetts consumers. In response to the public disclosure of the Mass AG Complaint, Credit Acceptance's stock price fell $85.36 per share, or over 18%, allegedly harming investors.

FOR MORE INFORMATION: www.tenlaw.com/cases/CreditAcceptance

Thornton Law Firm's securities attorneys are highly experienced in representing investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.

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www.tenlaw.com/cases/CreditAcceptance

SOURCE: Thornton Law Firm LLP