NEW YORK, March 20, 2014 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of investors who purchased Conn's, Inc. ("Conn's" or the "Company") (Nasdaq:CONN) common stock between April 3, 2013 and February 19, 2014.
For more information, click here: http://zlk.9nl.com/conns-conn.
The complaint alleges that during the Class Period, defendants issued false and misleading information and/or failed to disclose adverse facts regarding the Company's business and prospects. In particular, it is alleged that the Company failed to disclose and/or omitted material facts including: (a) the extent to which Conn's growth was attributable to utilizing underwriting and collections that weakened its portfolio quality, leaving it susceptible to increases in bad debt; and (b) that Conn's faced increased delinquency and charge off rates in its credit segment.
On February 20, 2014, the Company announced its preliminary fourth quarter fiscal 2014 results and updated its fiscal 2015 earnings guidance, revealing it would lower its recently-issued fiscal guidance for 2015. Upon this news, shares of Conn's fell almost 43 percent.
If you suffered a loss in Conn's you have until May 5, 2014 to request that the Court appoint you 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/conns-conn.
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: (212) 363-7171 www.zlk.comSource:Levi & Korsinsky, LLP