PHILADELPHIA, March 24, 2020 /PRNewswire/ -- Berger Montague is investigating securities fraud claims against Aaron's, Inc. ("Aaron's" or the "Company") on behalf of all purchasers of Aaron's common stock (NYSE: AAN) between March 2, 2018 and February 19, 2020 (the "Class Period").
If you purchased Aaron's shares, have information, would like to discuss this investigation, or have any questions concerning your rights or interests, please contact our attorneys Michael Dell'Angelo, Esq. at (215) 875-3080 or Andrew Abramowitz, Esq. at (215) 875-3015, or visit www.bergermontague.com/aarons-inc.
This lawsuit alleges that Aaron's falsely portrayed its compliance and disclosure procedures, and that those deficiencies came to light when certain of the Company's business segments were deemed in violation of the Federal Trade Commission ("FTC").
On February 20, 2020, in announcing its financial results for the fourth quarter and full year 2019, Aaron's reported that its Progressive segment had reached an agreement with the FTC regarding a Civil Investigative Demand made on the Company in July 2018. That proposed agreement entailed a payment in the amount of $175 million, as well as a host of enhanced compliance measures.
On this news, shares of Aaron's dropped 19%, or $10.70, to close at $45.45 per share.
If you purchased Aaron's common stock during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is April 28, 2020. You do not need to be a lead plaintiff to share in any potential class recovery.
Whistleblowers: Persons with non-public information regarding Aaron's should consider their options to help Berger Montague's investigation.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout the United States.
Michael Dell'Angelo, Managing Shareholder
Andrew Abramowitz, Senior Counsel
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SOURCE Berger Montague