BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the District of South Carolina on behalf of all purchasers of the common stock of World Acceptance Corporation (“World Acceptance Corp.” or the “Company”) (WRLD) between April 25, 2013 and March 12, 2014, inclusive (the “Class Period”).
World Acceptance Corp. engages in small-loan consumer finance business in the United States and Mexico. The Company’s products include short-term and medium-term loans, related credit insurance and ancillary products and services. The Complaint alleges that throughout the Class Period defendants issued false and misleading statements or failed to disclose that the Company's loan practices do not abide by the Consumer Financial Protection Act and/or the Truth in Lending Act, and the Company's financial statements concerning its business, operations and prospects were false and misleading.
On March 13, 2014, the Company disclosed that it received a Civil Investigative Demand (“CID”) from the U.S. Consumer Financial Protection Bureau (“CFPB”), in connection with a CFPB investigation to determine “whether finance companies or other unnamed persons have been or are engaging in unlawful acts or practices in connection with the marketing, offering, or extension of credit” in violation of certain sections of the Consumer Financial Protection Act, the Truth in Lending Act, or any other Federal consumer financial law.
If you are a member of the Class described above, you have until June 23, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to email@example.com, or visit our website at http://www.howardsmithlaw.com.
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