NEW YORK, Nov. 15, 2021 (GLOBE NEWSWIRE) -- The law firm of Kirby McInerney LLP is investigating potential claims against FirstCash, Inc. (“FirstCash” or the “Company”) (NASDAQ: FCFS). The investigation concerns whether FirstCash has violated the federal securities laws and/or engaged in other unlawful business practices.
FirstCash owns and operates over 1,000 retail pawnshops in the United States, offering pawn loans through its wholly-owned corporate subsidiaries.
On November 12, 2021, the Consumer Financial Protection Bureau (“CFPB”) filed a lawsuit against FirstCash and Cash America West, alleging that the two companies violated the Military Lending Act by charging higher than the allowable 36% annual rate on pawn loans to active-duty service members and their dependents. The CFPB is seeking an injunction, redress for affected borrowers, and a civil money penalty. On this news, FirstCash’s share price declined by $7.50 per share, or approximately 8.7%, from $86.14 per share to close at $78.64 per share on November 12, 2021.
If you purchased or otherwise acquired FirstCash securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Kirby McInerney LLP
Thomas W. Elrod, Esq.
212-371-6600
https://www.kmllp.com
investigations@kmllp.com
