Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Credit Acceptance Corporation (“Credit Acceptance” or the “Company”) (NASDAQ: CACC) on behalf of Credit Acceptance stockholders. Our investigation concerns whether Credit Acceptance has violated the federal securities laws and/or engaged in other unlawful business practices.
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On January 4, 2023, information was released regarding the U.S. Consumer Financial Protection Bureau and the New York State Office of the Attorney General filing a joint lawsuit against the company. The CFPB stated Credit Acceptance violated New York usury laws on interest-rate limits and other consumers and investor-protection laws.
New York's attorney general seeks to stop Credit Acceptance’s abusive and misleading practices, reform or rescind existing loan agreements, provide compensation to impacted New Yorkers, and secure penalties and damages due to this unacceptable and illegal behavior.
Following this news, on January 4, 2023, the company’s shares closed down 11.61%.
If you purchased or otherwise acquired Credit Acceptance shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker or Melissa Fortunato by email at email@example.com, by telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.