NEW ORLEANS, May 30, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 29, 2014 to file lead plaintiff applications in a securities class action lawsuit against Regional Management Corp. (NYSE:RM), if they purchased the Company's stock pursuant to its public stock offerings on September 20, 2013 at $27.50 per share and on December 5, 2013 at $31 per share (the "Offerings"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Regional and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org) or KSF Partner Melinda Nicholson (email@example.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 29, 2014.
About the Lawsuit
Regional and certain of its executives are charged with issuing a series of materially false and misleading statements in the Registration Statement and Prospectuses filed with the SEC in connection with the Offerings, violating federal securities laws.
The Registration Statement and Prospectuses allegedly failed to disclose Regional's: (i) increasing deterioration of underwriting standards, leading to higher delinquencies and loan charge-offs; (ii) failure to adequately reserve for loan losses; and (iii) repeated debt refinancing tactics used to increase loan amounts and interest rates, a practice the U.S. Consumer Finance Protection Bureau was then actively investigating and clamping down on. In addition, defendants misstated the Company's fourth quarter and fiscal 2012 financial reports.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
CONTACT: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner firstname.lastname@example.org Melinda Nicholson, Partner email@example.com 1-877-515-1850 206 Covington St. Madisonville, LA 70447Source:Kahn Swick & Foti, LLC