EZCORP Inc

0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS

Case Summary
Company Name: EZCORP Inc
Stock Symbol : (NASDAQ: EZPW)
Class Period Start: 10/27/2014
Class Period End: 07/16/2015
Lead Plaintiff motion: 09/18/2015
Date Filed: 07/20/2015
Type of Case: Securities Class Action
Court: U.S. District Court for the Western District of Texas
Summary:

Thieler Law Corp advises investors with losses exceeding $100,000 of the September 18, 2015 lead plaintiff deadline in a class action lawsuit filed against EZCORP Inc (NASDAQ: EZPW) (“EZCORP” or “the Company”). The suit is pending in the U.S. District Court for the Western District of Texas and investors, who purchased EZCORP securities between October 27, 2014 and July 16, 2015, have until September 18, 2015 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased EZCORP securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 866-6157 or emailing mail@thielerlaw.com .  No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that the Company failed to notice particular structured assets sales and certain loans which overstated its gains on asset sales and accrued interest revenue.  Additionally it claims they failed to disclose that the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles and that they lacked adequate internal and financial controls; and as a result of the foregoing, defendants' statements were materially false and misleading at all relevant times.

EZCORP Inc's accounting misrepresentations first were revealed in a report released by the Company on April 30, 2015, in which it announced a delay in its earnings release for the second quarter of fiscal 2015 due to an ongoing review of the Company's Grupo Finmart loan portfolio. After this report was released, shares of EZCORP fell$0.79 per share, an 8.59% drop, to close at $8.41 on May 1, 2015.

Then, on May 20, 2015, after market-close, the Company revealed that, while review of the Grupo Finmart loan portfolio was still ongoing, management and the Audit Committee would likely conclude that the Company had a material weakness in internal controls over financial reporting and deficiencies in its disclosure controls and procedures. On this news, shares of EZCORP dropped $0.66 per share, a 7.59% drop, to close on May 21, 2015, at $8.33 per share, on unusually heavy volume. 

Finally, on July 17, 2015, the Company announced that it would restate its financial statements for fiscal 2014 (including the interim periods, within that year) and the first quarter of fiscal 2015, and that the previously issued financial statements for those periods should no longer be relied upon. On the release of this news, shares of EZCORP closed at $6.48 on July 17, 2015, a 3.86% drop, dropping $0.26 per share.

If you were negatively impacted by your investment in EZCORP securities between October 27, 2014 and July 16, 2015 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm.

Thieler Law Corp

2534 State Street - Suite 406,

San Diego, CA 92101

by

email: mail@thielerlaw.com 

or

telephone at +1 (619) 377 - 4324

or

visit our website http://www.thielerlaw.com/ 

or

Facsimile: +1 (619) 785 – 3185

Transactions
Buy date (mm/dd/yyyy) Number of shares Price per share
Sell date (mm/dd/yyyy) Number of shares Price per share
Please wait...