The Shareholders Foundation announces that an investigation for investors who currently hold NASDAQ:CONN shares was initiated concerning potential breaches of fiduciary duties by certain CONN’S directors and officers.
Investors who are current long term investors in CONN’S, Inc. (NASDAQ:CONN shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain CONN’S officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On February 20, 2014, CONN’S, Inc. announced its preliminary fourth quarter fiscal 2014 results and updated its fiscal earnings guidance. Shares of CONN’S, Inc. declined from $79.24 per share in December 2013 to as low as $31.89 per share on February 20, 2014. Then in early March 2014 a lawsuit was filed against CONN’S, Inc. over alleged securities laws violations. The plaintiff claimed that defendants between April 3, 2013 and February 19, 2014 issued allegedly false and misleading statements or allegedly failed to disclose adverse facts regarding Conn’s business and prospects, including the extent to which Conn’s growth was attributable to utilizing underwriting and collections practices that weakened its portfolio quality and left it susceptible to substantial increases in bad debt, and that Conn’s faced increased delinquency and charge off rates in its credit segment, and that as a result of the defendants’ statements, Conn’s stock traded at artificially inflated levels between April 3, 2013 and February 19, 2014, reaching a high of $79.24 per share on December 26, 2013.
On March 27, 2014, CONN’S, Inc. reported that its fiscal 2014 fourth quarter and full year financial results and on Sept. 2, 2014, CONN’S, Inc. announced its second quarter fiscal 2015 financial results and updates its fiscal year 2015 earnings guidance.
Shares of CONN’S, Inc. (NASDAQ:CONN) declined from over $77 per share in early 2014 to as low as $26.60 per share on September 24, 2014.
On September 29, 2014, NASDAQ:CONN shares closed at $30.70 per share
Those who purchased shares of CONN’S, Inc. (NASDAQ:CONN) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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