According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- 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 a consent order (the “Order”) with the Consumer Financial Protection Bureau (“CFPB”);
- FirstCash had failed to implement the remedial measures imposed by the Order;
- FirstCash’s financial results were, in substantial part, the product of FirstCash’s violations of the MLA and the Order; and
- as a result, FirstCash was exposed to a material undisclosed risk of legal, reputational, and financial harm if FirstCash’s violations of the MLA and the Order were ever publicly disclosed.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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