The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Northern District of Texas on behalf of investors who purchased FirstCash, Inc. (NASDAQ: FCFS) common stock between February 1, 2018 and November 12, 2021.
According to the FirstCash lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (a) FirstCash had made more than 3,600 loans to over 1,000 active-duty members of the military and their families at usurious interest rates above 36% – and often exceeding 200% – in violation of the Military Lending Act (“MLA”) and the Consent Order Cash America had entered into with the Consumer Financial Protection Bureau (the “Order”); (b) FirstCash had failed to implement the remedial measures imposed by the Order; (c) FirstCash’s financial results were, in substantial part, the product of the Company’s violations of the MLA and the Order; and (d) as a result of the foregoing, FirstCash was exposed to a material undisclosed risk of legal, reputational and financial harm if the Company’s violations of the MLA and the Order were ever publicly disclosed.
If you suffered a loss in FirstCash you have until March 15, 2022 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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