SOURCE: Faruqi & Faruqi LLP

Faruqi & Faruqi LLP

November 22, 2013 20:08 ET

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses in Excess of $100,000 Investing in DFC Global Corp. to Contact the Firm

NEW YORK, NY--(Marketwired - Nov 22, 2013) - Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in DFC Global Corp. ("DFC" or the "Company") (NASDAQ: DLLR) of the January 21, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against DFC and certain executives.

A complaint has been filed on behalf of all persons who purchased DFC securities between January 28, 2011 and August 22, 2013, inclusive (the "Class Period") in the Eastern District of Pennsylvania.

The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.

Specifically, the action alleges that throughout the Class Period DFC, a non-bank provider of alternative financial services such as pay-day loans and secured pawn loans, and its executives made a series of false and misleading statements concerning the Company's compliance with government regulations and guidance with respect to irresponsible lending practices and the Company's prudent underwriting practices.

On April 1, 2013, DFC issued financial results for its third quarter of 2013 that were negatively impacted by poor loan performance and slashed its operating earnings per share guidance for fiscal year 2013. On this news, the Company's stock declined $3.60 per share, or nearly 22%, to close at $13.04 per share on April 1, 2013 on unusually heavy volume.

Then, on August 22, 2013, DFC announced earnings for its fourth quarter of 2013 and again reported soaring loan defaults in the U.K. as well as increasing regulatory, legal, audit, and compliance costs relating to its payday lending program. Following this news, the Company's stock declined $4.95 per share, or nearly 29%, to close at $11.31 per share on August 23, 2013 on unusually heavy volume.

Request more information now by clicking here: www.faruqilaw.com/DLLR. There is no cost or obligation to you.

Take Action

If you invested in DFC stock, bonds or options between January 28, 2011 and August 22, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/DLLR. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com or fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding DFC's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.

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Contact Information

  • FARUQI & FARUQI, LLP
    369 Lexington Avenue, 10th Floor
    New York, NY 10017
    Attn: Richard Gonnello, Esq.
    Email Contact
    Francis McConville, Esq.
    Email Contact
    Telephone: (877) 247-4292 or (212) 983-9330