BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of World Acceptance Corporation (“World Acceptance” or the “Company”) (NASDAQ: WRLD) investors concerning the Company’s possible violations of federal securities laws.
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.
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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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