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 Georgia on behalf of investors who purchased Aaron’s, Inc. (NYSE : AAN) securities between February 6, 2015 and October 29, 2015.
According to the complaint, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company touted the proprietary algorithm of its subsidiary, Progressive Finance Holdings, LLC, when software issues plagued Progressive's ability to determine which customers met the leasing qualifications; (2) Progressive suffered a loss of critical data that impacted its ability to make loans and collect payments.
On October 30, 2015, the Company disclosed that Progressive had lost two critical data feeds in February 2015, which affected the Company's ability to make loans and collect payments.
If you suffered a loss in Aaron’s, Inc. you have until August 18, 2017 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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