SAN DIEGO, CA / ACCESSWIRE / December 2, 2020 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in Credit Acceptance Corporation (NASDAQ:CACC) shares.
Investors, who purchased shares of Credit Acceptance Corporation (NASDAQ:CACC), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779-1554.
The plaintiff alleges that the defendants failed to disclose to investors that the Company was topping off the pools of loans that they packaged and securitized with higher-risk loans, that Credit Acceptance was making high-interest subprime auto loans to borrowers that the Company knew borrowers would be unable to repay, that the borrowers were subject to hidden finance charges, resulting in loans exceeding the usury rate ceiling mandated by state law, that Credit Acceptance took excessive and illegal measures to collect debt from defaulted borrowers, that, as a result, the Company was likely to face regulatory scrutiny and possible penalties from various regulators or lawsuits, and that, as a result of the foregoing, Defendant's positive statements about the Company's business, operations, and adherence to appropriate laws and regulations were materially misleading and/or lacked a reasonable basis. public statements were materially false and misleading at all relevant times.
Those who purchased Credit Acceptance Corporation (NASDAQ:CACC) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: The Shareholders Foundation, Inc.