Philadelphia, Pennsylvania--(Newsfile Corp. - February 27, 2022) - Kaskela Law LLC announces that it is investigating FirstCash Holdings, Inc. ("FirstCash" or the "Company") (NASDAQ: FCFS) on behalf of the Company's long-term stockholders.
Recently a securities fraud complaint was filed against FirstCash on behalf of certain investors who purchased shares of the Company's common stock between February 1, 2018 and November 12, 2021. According to the complaint, during that time period FirstCash was engaged in widespread and systemic violations of the Military Lending Act ("MLA") and had made thousands of loans to active-duty service members and their dependents at usurious rates.
On November 12, 2021, the Consumer Financial Protection Bureau ("CFPB") filed a lawsuit alleging that FirstCash and had violated the MLA by charging higher than the allowable 36% annual percentage rate on over 3,600 pawn loans to more than 1,000 active-duty service members and their dependents. Following this news, shares of FirstCash's common stock fell $7.50 per share on November 12, 2021. Over the following week, the Company's shares declined an additional $10.00 per share.
The investigation seeks to determine whether the members of FirstCash's board of directors breached their fiduciary duties to the Company and its stockholders in connection with the above alleged misconduct.
Current FirstCash stockholders who purchased or acquired shares of the Company's common stock prior to November 12, 2021 are encouraged to contact Kaskela Law LLC (Adrienne Bell, Esq.) at (484) 229 - 0750, or by email (abell@kaskelalaw.com) or online at https://kaskelalaw.com/cases/firstcash-holdings-inc/, for additional information about this action and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
CONTACT:
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
KASKELA LAW LLC
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(888) 715 - 1740
(484) 229 - 0750
www.kaskelalaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/115031
