NEW YORK, June 10, 2008 (PRIME NEWSWIRE) -- Roy Jacobs & Associates announces that it is investigating possible securities and other legal violations regarding a recent announcement regarding CompuCredit Corp. ("CompuCredit" or the "Company") (Nasdaq:CCRT) wherein the Federal Trade Commission and the Federal Deposit Insurance Corporation are filing charges against CompuCredit and are seeking fines and the payment of very substantial restitution from CompuCredit for having used deceptive marketing tactics and abusive debt collection practices in its business.
If you are interested in discussing this matter please call 1-888-884-4490 or email to rjacobs@jacobsclasslaw.com.
The Company had previously disclosed that it was in settlement discussions with the FDIC and the FTC in connection with the agencies' investigations of the Company's credit card business and debt collection practices, but stated that the Company did not believe that any payments arising out of the investigations would be material, and had not reserved for any such payments. However, it now appears that the fines and the required restitution may well be very material. CompuCredit's shares are down over 20 percent on markedly increased volume.
If you purchased CompuCredit shares during the period from August 2, 2006 through June 9, 2008 and hold them at a loss, or sold them on June 10, 2008 at a loss, or you have held CompuCredit shares for at least one year and still hold them, and you are interested in discussing your rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will speak with you personally at no cost or obligation.