SOURCE: Kessler Topaz Meltzer & Check, LLP

October 08, 2014 12:20 ET

Kessler Topaz Meltzer & Check, LLP Reminds EZCORP, Inc. (EZPW) Shareholders of Class Action and Upcoming Lead Plaintiff Deadline

RADNOR, PA--(Marketwired - Oct 8, 2014) - The law firm of Kessler Topaz Meltzer & Check, LLP reminds shareholders that a class action lawsuit has been filed against EZCORP, Inc. (NASDAQ: EZPW) ("EZCORP" or the "Company") on behalf of purchasers of the Company's common stock between April 30, 2013 and July 18, 2014, inclusive (the "Class Period").

EZCORP shareholders may, no later than October 21, 2014, petition the Court for appointment as a lead plaintiff of the Class. 

Shareholders who wish to discuss this action and their options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299-7706. For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/case/EZCORP.

EZCORP provides specialty consumer financial services, including pawn loans and consumer loans in the United States, Mexico, Canada and the United Kingdom. On July 18, 2014, after the market closed, MS Pawn Corp., the "voting shareholder" and beneficial owner of 100% of EZCORP's outstanding Class B voting common stock, announced the "removal" of EZCORP's President and Chief Executive Officer ("CEO"), the Chairman of the Company's Board of Directors, and another EZCORP director.

Then on July 21, 2014, before the market opened, EZCORP announced that MS Pawn Corp. had appointed the Company's CFO as interim CEO of the Company. The Company also disclosed that another director, who had joined EZCORP's Board of Directors effective July 1, 2014, had resigned. On this news, shares of the EZCORP's common stock declined $1.36 per share, or over 12%, to close on July 21, 2014 at $9.76 per share, on heavy trading volume.

The complaint alleges that, throughout the Class Period, EZCORP and certain of its executive officers made a series of false and misleading statements and failed to disclose material adverse facts about the Company's business. Specifically, the complaint alleges that the defendants made false and misleading statement and/or failed to disclose: (1) that the implementation of certain strategic and growth initiatives was less successful than represented; (2) that certain of the Company's business units and investments were not performing as well as represented; and (3) that, based on the foregoing, defendants' positive statements about the Company's business, operations, and prospects lacked a reasonable basis.

EZCORP shareholders may, no later than October 21, 2014, petition the Court for appointment as a lead plaintiff of the class. A lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 - 7706 or (610) 667 - 7706, or via e-mail at info@ktmc.com. The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For additional information about the lawsuit, or to request information about the action, please visit http://www.ktmc.com/case/EZCORP.

Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.

Contact Information

  • CONTACT:
    Kessler Topaz Meltzer & Check, LLP
    Darren J. Check, Esq.
    D. Seamus Kaskela, Esq.
    Adrienne O. Bell, Esq.
    280 King of Prussia Road
    Radnor, PA 19087
    (888) 299 - 7706
    (610) 667 - 7706
    Email Contact