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SAN DIEGO, Jan. 15, 2022 (GLOBE NEWSWIRE) -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of FirstCash Holdings, Inc. (NASDAQ: FCFS). The class action is on behalf of shareholders who purchased FirstCash securities between February 1, 2018 and November 12, 2021 , inclusive (the 'Class Period'). To serve as lead plaintiff in this class action, you must move the Court no later than March 15, 2022.
What actions may I take at this time? If you suffered a substantial loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker ( ) by email or phone at 619-814-4471. If emailing, please include a phone number. Additionally, you can:
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On November 12, 2021, The Consumer Financial Protection Bureau, or CFPB, filed a complaint in the U.S. District Court for Northern Texas in Fort Worth. The CFPB lawsuit accuses Cash America West and FirstCash of disobeying the Military Lending Act, by charging higher than the allowable 36% annual rate on pawn loans to active-duty service members and their dependents.
The FirstCash class-action lawsuit alleges that, throughout the Class Period, defendants made false and misleading statements and failed to disclose that: (i) 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 MLA and the Order; (ii) FirstCash had failed to implement the remedial measures imposed by the Order; (iii) FirstCash's financial results were, in substantial part, the product of FirstCash's violations of the MLA and the Order; and (iv) 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.
A lead plaintiff will act on behalf of all other class members in directing the FirstCash class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor's ability to share any potential future recovery of the FirstCash class action lawsuit is not dependent upon serving as lead plaintiff.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit . Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
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Tags Class Action
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