SAN DIEGO and GREENVILLE, S.C., March 25, 2014 /PRNewswire/ -- Shareholder rights law firm 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.
View the investigation on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/shareholders-rights-blog/world-acceptance-corporation
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, DDonahue@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
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Contact:
Darnell R. Donahue
Robbins Arroyo LLP
DDonahue@robbinsarroyo.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
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SOURCE Robbins Arroyo LLP
