NEW ORLEANS, June 30, 2017 (GLOBE NEWSWIRE) -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 18, 2017 to file lead plaintiff applications in a securities class action lawsuit against Aaron’s, Inc. (NYSE:AAN), if they purchased the Company’s shares between February 6, 2015 and October 29, 2015, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of Georgia.
Aaron’s investors should visit us at https://www.claimsfiler.com/cases/view-aarons-inc-securities-litigation or call to speak to our claim center toll-free at (844) 367-9658.
About the Lawsuit
Aaron’s and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 30, 2015, Aaron’s revealed that a software glitch affecting the credit qualification algorithm utilized by its subsidiary, Progressive Finance Holding, LLC, had resulted in the loss of critical data as well as the Company’s ability to make lease qualification determinations and collect payments. Aaron’s further announced that the problems had first been discovered in February, nine months prior to the revelation.
On this news, the price of Aaron’s shares plummeted.
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