Wolf Haldenstein Adler Freeman & Herz, LLP announces that a class action
lawsuit has been filed in the United States District Court for the
Southern District of Texas on behalf of all persons or entities that
purchased the securities of Conn’s, Inc. (NASDAQ:CONN) between
April 3, 2013 and February 19, 2014, inclusive.
The filed complaint alleges that defendants failed to disclose negative
trends in Conn’s business, including that the Company faced increased
bad debt expenses as a result of rising customer delinquency. The
majority of Conn’s customers utilize in-house financing plans.
On February 20, 2014, the Company issued a press release announcing
preliminary fourth quarter 2014 results and updating 2015 projected
guidance. In the release, the Company revealed that the provision for
bad debts at January 31, 2014 would exceed the previously issued
guidance that had been confirmed as recently as December 2013.
On this shocking news, the price of Conn’s, Inc. common stock fell
$23.91, to close at $31.89, a market capitalization drop of $860 million.
Wolf Haldenstein has represented individual and institutional investors
for many years, serving as lead counsel in numerous cases in United
States federal and state courts. Please visit the Wolf Haldenstein
for more information about the firm.
If you are a shareholder of Conn’s, Inc. (NASDAQ:CONN) who suffered a
material loss on shares purchased within the class period and would like
additional information concerning your rights in this matter, please
contact us immediately:
Patrick Donovan, Esquire
Gregory Stone, Director of Case
and Financial Analysis
Wolf Haldenstein Adler Freeman & Herz LLP
New York, New York 10016
and please reference “Conn’s Inc. Investigation.”
Wolf Haldenstein Adler Freeman & Herz LLP did not file the original
complaint against Conn’s Inc.
Attorney Advertising. Prior results do not guarantee or predict a
Copyright Business Wire 2014