Investors with losses are encouraged to contact the firm before December 1, 2020; click here to submit trade information
LOS ANGELES, Oct. 30, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Credit Acceptance Corporation (NASDAQ: CACC) investors that acquired shares between November 1, 2019 and August 28, 2020. Investors have until December 1, 2020 to seek an active role in this litigation.
Investors are encouraged to contact attorney Lesley F. Portnoy, to determine eligibility to participate in this action, by phone 310-692-8883 or email, or click here to join the case.
On August 28, 2020, a lawsuit was filed against Credit Acceptance by the Massachusetts Attorney General which alleges that the Company has, for years, been making deceptive and unfair automobile loans to thousands of Massachusetts consumers. The lawsuit also alleges that Credit Acceptance provided its investors with false and/or misleading information regarding the asset-backed securitizations which they offered to investors, and that the Credit Acceptance engaged in unfair debt collection practice. Credit Acceptance's stock price fell $85.36 per share, or over 18%, in response to the public disclosure of the Mass AG lawsuit, to close at $374.07 per share over two trading days ending on September 1, 2020.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 1, 2020.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims arising from corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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