LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Credit Acceptance Corporation (“Credit Acceptance” or “the Company”) (NASDAQ: CACC) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Credit Acceptance is the target of a lawsuit filed on January 4, 2023, by the Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James over predatory lending practices. CFPB Director Rohit Chopra said in a statement that the Company “obscured the true cost of its loans," and then subjected consumers to financial distress and aggressive debt collection "on loans its own systems predicted that borrowers can't afford to repay." Based on this news, shares of Credit Acceptance fell by more than 11.6% on the same day.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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