The Shareholders Foundation announces that an investor, who purchased shares of EZCORP Inc (NASDAQ:EZPW), filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by EZCORP Inc in connection with certain allegedly false and misleading statements made between April 30, 2013 and July 18, 2014.
Investors who purchased shares of EZCORP Inc (NASDAQ:EZPW) have certain options and for certain investors are short and strict deadlines running. Deadline: October 21, 2014. NASDAQ:EZPW investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of EZCORP Inc (NASDAQ:EZPW) common shares between April 30, 2013 and July 18, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that defendants made allegedly false and/or misleading statements and/or failed to disclose that the implementation of certain strategic and growth initiatives was less successful than represented, that certain of EZCORP Inc’s business units and investments were not performing as well as represented, and that as a result of the above, EZCORP Inc’s statements about its business and operations were allegedly materially false and misleading at all relevant times.
EZCORP Inc reported that its Total Revenue rose from $975.12 million for the 12 months period that ended on Sept. 30, 2012 to over $1.01 billion for the 12 months period that ended on Sept. 30, 2013 and that its respective Net Income declined from $143.71 million to $34.08 million. Shares of EZCORP Inc (NASDAQ:EZPW) declined from over $32 per share in March 2012 to $9.35 per share in late Janaury 2014.
Then on July 18, 2014, MS Pawn Corporation, the voting shareholder of EZCORP Inc’s Class B voting common stock, announced the removal from EZCORP Inc of Paul Rothamel as director, President and Chief Executive Officer, William Love as Chairman of the Board of Directors, and Joseph Beal as director. Shares of EZCORP Inc (NASDAQ:EZPW) declined from $11.12 per share on July 18, 2014 to as low as $9.29 per share on August 1, 2014.
On September 5, 2014, NASDAQ:EZPW shares closed at $10.29 per share.
Those who purchased shares of EZCORP Inc (NASDAQ:EZPW) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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