LOS ANGELES, March 03, 2022 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming March 15, 2022 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired FirstCash Holdings, Inc. (“FirstCash” or the “Company”) (NASDAQ: FCFS) common stock between February 1, 2018 and November 12, 2021, inclusive (the “Class Period”).

If you suffered a loss on your FirstCash investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/firstcash-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [email protected] to learn more about your rights.

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 (“MLA”) 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 share price declined $7.20, or 8.4%, to close at $78.64 per share on November 12, 2021, thereby injuring investors.

The complaint filed alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) FirstCash had made more than 3,600 loans to over 1,000 active-duty members of the military and their families at usurious interest rates above 36% -- and often exceeding 200% -- in violation of the MLA and consent order between FirstCash’s predecessor and the CFPB for prior violations of the MLA (the “Order”); (2) FirstCash had failed to implement the remedial measures imposed by the Order; (3) FirstCash’s financial results were, in substantial part, the product of FirstCash’s violations of the MLA and the Order; and (4) as a result, FirstCash was exposed to a material undisclosed risk of legal, reputational, and financial harm if FirstCash’s violations of the MLA and the Order were ever publicly disclosed.

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If you purchased or otherwise acquired FirstCash common stock during the Class Period, you may move the Court no later than March 15, 2022 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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Contacts
Glancy Prongay & Murray LLP, Los Angeles
Charles Linehan, 310-201-9150 or 888-773-9224
[email protected]
www.glancylaw.com