NEW YORK, Nov. 21, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased DFC Global Corp. ("DFC" or the "Company") (Nasdaq:DLLR) common stock between January 28, 2011 and August 22, 2013.
Click here to learn more about the action http://zlk.9nl.com/dfcglobal-dllr/, or call: 877-363-5972. There is no cost or obligation to you.
The complaint alleges that the Company misrepresented that it was compliant with government regulations and guidance regarding its lending practices. In particular, it was alleged that: a) DFC issued high-fee predatory loans to consumers that had no reasonable means to be repaid; b) the Company rolled and refinanced its loans continuously in order to delay or avoid defaults; c) DFC did not conduct affordability assessments on its customers; d) that the Company understated its loan loss rates; and lastly, that e) the Company's earnings guidance for its 2013 fiscal year was inflated because it relied upon the Company's improper lending practices.
On August 22, 2013, DFC disclosed that it expected to incur a recurring $10 to $15 million in expenses for regulatory, legal, audit, and compliance-related costs. The Company's United Kingdom losses were such that they were unable to provide an earnings per share guidance report for fiscal 2014.
Shareholders of DFC have until January 21, 2014 to seek appointment as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/dfcglobal-dllr/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's 26 attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP