The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Aarons, Inc. (NYSE: AAN) securities between March 2, 2018 and February 19, 2020.
According to the Aarons lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Aaron’s had inadequate disclosure controls, procedures, and compliance measures; (ii) consequently, the operations of Aaron’s Progressive Leasing ("Progressive") and Aaron's Business ("AB") segments were in violation of the Federal Trade Commission ("FTC") Act and/or relevant FTC regulations; (iii) consequently, Aaron’s earnings from those segments were partially derived from unlawful business practices and were thus unsustainable; (iv) the full extent of Aaron’s liability regarding the FTC’s investigation into its Progressive and AB segments, Aaron’s noncompliance with the FTC Act, and the likely negative consequences of all the foregoing on the Company’s financial results; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Aarons you have until April 28, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn\'t require that you serve as a lead plaintiff.
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