BENSALEM, PA / ACCESSWIRE / March 27, 2020 / Law Offices of Howard G. Smith reminds investors of the upcoming April 28, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who acquired Aaron's, Inc. ("Aaron's" or the "Company") (NYSE:AAN) securities between March 2, 2018 and February 19, 2020, inclusive (the "Class Period").
Investors suffering losses on their Aaron's investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On February 20, 2020, Aaron's disclosed that its Progressive segment had reached an agreement in principle with the U.S. Federal Trade Commission ("FTC") regarding the July 2018 civil investigative demand, which had sought to determine whether disclosures related to the Company's financial products were in violation of the FTC Act. The proposed agreement required Aaron's to "make a payment of $175 million and enhance certain compliance-related activities, including monitoring, disclosure and reporting requirements."
On this news, the Company's share price fell $10.70 per share, or over 19%, to close at $45.45 per share on February 20, 2020, thereby injuring investors.
The complaint alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) that Aaron's had inadequate disclosure controls, procedures, and compliance measures; (2) that, consequently, the operations of Aaron's Progressive and AB segments were in violation of the FTC Act and/or relevant FTC regulations; (3) that, consequently, Aaron's earnings from those segments were partially derived from unlawful business practices and were thus unsustainable; (4) the full extent of Aaron's liability regarding the likely negative consequences of all the foregoing on the Company's financial results; and (5) that, as a result, the Company's public statements were materially false and misleading at all relevant times.
If you purchased Aaron's securities during the Class Period, you may move the Court no later than April 28, 2020 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
CONTACT:
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
SOURCE: Law Offices of Howard G. Smith
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