NEW YORK, Nov. 24, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of FirstCash, Inc. (“FirstCash” or the “Company”) (NASDAQ: FCFS). If you are a shareholder of FirstCash with more than $50,000 in losses, you should contact the Firm.
FirstCash is an American company that operates pawn stores, including more than 2,800 locations across the United States and Latin America.
On November 12, 2021, the Consumer Financial Protection Bureau (“CFPB”) published a press release stating that the agency had filed a lawsuit against FirstCash and its subsidiary Cash America West, Inc. The lawsuit alleges that the two companies violated the Military Lending Act by charging an illegally high annual percentage rate on over 3,600 pawn loans to active-duty American servicemembers and their dependents. These loans frequently included APRs exceeding 200%. These practices also violated a 2013 CFPB order against FirstCash’s predecessor company which prohibited the Company from violating the Military Lending Act. As part of this action, the CFPB intends to investigate whether FirstCash and its subsidiaries have made additional illegal pawn loans.
Following this news, FirstCash’s stock price fell $7.50 per share, or 8.7%, to close at $78.64 per share on November 12, 2021. FirstCash shares have continued to consistently drop over the following weeks.
If you are a shareholder of FirstCash, and wish to participate, learn more, or discuss the issues surrounding the investigation, please contact our attorneys at (914) 733-7256 or via email at investigations@lowey.com.
Whistleblowers: Persons with non-public information regarding FirstCash should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
Contact
Lowey Dannenberg P.C.
44 South Broadway, Suite 1100
White Plains, NY 10601
Tel: (914) 733-7256
Email: investigations@lowey.com
