LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of World Acceptance Corporation (“World Acceptance” or the “Company”) (NASDAQ: WRLD) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On February 23, 2024, the Consumer Financial Protection Bureau (“CFPB”) announced that it had ordered federal supervision for World Acceptance after determining that “World Acceptance does not adequately explain to its customers that the insurance coverage [it] offers is optional,” that the Company “engages in excessive, harassing, and coercive collection practices,” that it “furnishes inaccurate information to consumer reporting agencies or fails to adequately respond to consumer disputes regarding the accuracy of information it has furnished,” and that its business model “relies on serially refinancing its loans.”
On this news, World Acceptance’s stock price fell $11.23, or 8.7%, to close at $118.59 per share on February 26, 2024, thereby injuring investors.
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If you purchased World Acceptance securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 2121 Avenue of the Stars, Suite 800, Century City, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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Contacts
The Law Offices of Frank R. Cruz, Los Angeles
Frank R. Cruz, 310-914-5007
[email protected]
www.frankcruzlaw.com
