Philadelphia, Pennsylvania--(Newsfile Corp. - August 22, 2023) - A securities fraud class action complaint has alleged that FirstCash Holdings, Inc. (NASDAQ: FCFS) failed to disclose adverse facts about FirstCash's business, operations and prospects, which were known to, or recklessly disregarded by the company and its officers and directors. These adverse facts include: that FirstCash had made more than 3,600 loans to over 1,000 active-duty members of the military and their families at usurious interest rates above 36% - and often exceeding 200% - in violation of the Military Lending Act ("MLA"); that FirstCash's financial results were, in substantial part, the product of the Company's violations of the MLA; and that as a result, FirstCash was exposed to a material undisclosed risk of legal, reputational and financial harm if the Company's violations of the MLA were ever publicly disclosed.
Current FirstCash shareholders who have held FirstCash shares since on or about June 1, 2017, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award if appropriate, at no cost to them.
If you would like to learn more about this matter, you are encouraged to contact us at jgrabar@grabarlaw.com, visit https://grabarlaw.com/the-latest/first-cash-shareholder-investigation/, or call 267-507-6085.
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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/178054
