RM LAW, P.C. announces an investigation on behalf of CURO Group Holdings Corp. (“CURO” or the “Company”) (NYSE: CURO) investors concerning the Company and its officers’ possible violations of federal securities laws.
If you purchased shares of CURO and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
Our investigation concerns the Company’s response to a change in Canadian laws. In response to those changes, CURO began to develop a strategy to transition its Canadian business out of single-pay loans to installment and line of credit ("open-end") loan products. CURO assured the transition would be slow with minimal negative impact confined to the second quarter 2018. Though CURO consistently reaffirmed its full year 2018 ("FY18") financial guidance in its public statements, on October 24, 2018, CURO announced dismal third quarter 2018 results that widely missed analysts' expectations and revealed a staggering decline of 50% year-over-year in single-pay loan balances, culminating in a significant cut to the Company's FY18 guidance. On this news, CURO's stock price fell almost 34% to close at $15.12 per share. The stock has since continued to decline, currently trading at around $8.