Robbins Arroyo LLP Is Investigating the Officers and Directors of World Acceptance Corporation on Behalf of Shareholders
Robbins Arroyo LLP is investigating whether certain officers and directors of the small-loan consumer finance company, World Acceptance Corporation (NasdaqGS: WRLD), breached their fiduciary duties to shareholders.
World Acceptance Is Under Investigation by the Consumer Financial Protection Bureau
Shares of World Acceptance fell $19.07, or nearly 20%, to close at $78.25 on March 13, 2014, following a disclosure by the company that it is the target of an investigation by the U.S. Consumer Financial Protection Bureau (the “Agency”). According the disclosure, World Acceptance received a Civil Investigative Demand from the Agency related to potential “unlawful acts or practices in connection with the marketing, offering, or extension of credit” in violation of federal law.
In light of this news, Robbins Arroyo LLP is investigating whether World Acceptance’s board of directors breached its fiduciary duties to shareholders by failing to implement adequate internal controls to ensure that World Acceptance complied with federal lending requirements.
World Acceptance Shareholders Have Legal Options
Robbins Arroyo LLP highlights that World Acceptance shareholders have the option to pursue a shareholder litigation demand or shareholder derivative action through which shareholders aim to hold insider wrongdoers accountable for their actions, prevent future misconduct, and bring long-term value back to the company.
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Darnell R. Donahue at (800) 350-6003, or you can complete the form below and we will contact you directly.
Shareholder InformationSend This Post