Credit Acceptance Corporation Loss Submission Form

The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Michigan on behalf of investors who purchased Credit Acceptance Corporation (NASDAQ: CACC) securities between November 1, 2019 and August 28, 2020.

According to the Credit Acceptance lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans; (ii) Credit Acceptance was making high-interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay; (iii) the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law; (iv) Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers; (v) as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits; and (vi) that, as a result of the foregoing, Defendants positive statements about the Company’s business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis.

If you suffered a loss in Credit Acceptance you have until December 1, 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.

To receive more information, please fill out the form.

Submit Your Information

This submission does not create an attorney-client relationship. By submitting your information, you are giving us your express consent to contact you by email, text message, SMS, or call you by telephone.

Privacy Policy