LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) is continuing its investigation on behalf of Rent-A-Center, Inc. (“Rent-A-Center” or the “Company”) (NASDAQ: RCII) investors concerning the Company and its officers’ possible violations of federal securities laws.
Update: On December 5, 2016 Rent-A-Center announced that Guy J. Constant, the Company’s Executive Vice President of Finance, Chief Financial Officer, and Treasurer had resigned. On this news, Rent-A-Center shares have fallen approximately 10% during intra-day trading on December 6, 2016.
The underlying investigation concerns whether the Company misled investors regarding its sales and profitability following issues with Rent-A-Center’s point of sale system earlier this year. Despite assurances by the Company on July 28, 2016 that its point of sale system was fixed and could accommodate the Company’s future sales process, on October 11, 2016, the Company announced it was experiencing issues with its point of sale system that would negatively impact Rent-A-Center’s third quarter sales. On this news the Company’s share price fell nearly 30% to close at $9.18 per share on October 11, 2016, thereby injuring investors.
If you purchased Rent-A-Center securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, 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 shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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