DENVER, CO, January 24, 2020 – Shuman, Glenn & Stecker announces that it is investigating potential shareholder claims against certain officers and directors of CURO Group Holdings, Inc. (“CURO” or the “Company”) (NYSE: CURO). CURO is a consumer finance company focusing on payday loans, single-pay loans and ancillary financial products.
The Firm’s investigation relates to allegations raised in a class action complaint filed against the Company and certain of its senior officers in the U.S. District Court for the District of Kansas. The lawsuit alleges that between July 31, 2018 and October 24, 2018, CURO consistently touted the ongoing success of transitioning its Canadian inventory products from Single-Pay Loans to Open-End Loans and reaffirmed its 2018 full-year financial guidance. Despite these positive assurances of the transition, on October 24, 2018, CURO disclosed disappointing results for the Company’s third quarter, including Canadian revenue that had decreased by $4.4 million, provision for losses that had increased by $8.7 million, and an adjusted EBITDA that decreased by $15.36 million. On this news, CURO’s stock price fell $7.69, or almost 34%, to close at $15.18 per share. The lawsuit further alleges that certain of the Company’s senior officers and directors sold approximately $33 million worth of CURO stock in a May 2018 stock offering at a price of $23.00 per share, just prior to the disclosure of disappointing third quarter results. CURO’s stock trades for approximately $10 per share as of the date of this release. On December 3, 2019, the federal judge denied CURO’s motion to dismiss the claims, paving the way for litigation to proceed towards trial.
If you currently own CURO common stock and are interested in discussing your rights, or have information relating to this investigation, please contact Brett Stecker toll free at (866) 569-4531 or email Mr. Stecker at email@example.com.