SOURCE: Saxena White P.A.

April 23, 2014 10:17 ET

Saxena White P.A. Files Securities Fraud Class Action Against World Acceptance Corporation

BOCA RATON, FL--(Marketwired - Apr 23, 2014) - Saxena White P.A. has filed a securities fraud class action lawsuit in the United States District Court for the District of South Carolina against World Acceptance Corporation ("World Acceptance" or the "Company") (NASDAQ: WRLD) on behalf of investors who purchased or otherwise acquired the common stock of the Company during the period from April 25, 2013 through March 12, 2014 (the "Class Period"). 

World Acceptance is one of America's largest providers of installment loans. The Company offers short-term small loans, medium-term larger loans, and related credit insurance products and services to those who have limited access to other sources of consumer credit. 

The Complaint brings forth claims for violations of the Securities Exchange Act of 1934. The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company's loan practices do not abide by the Consumer Financial Protection Act and/or the Truth in Lending Act; (ii) the Company lacked adequate internal and financial controls; and (iii) as a result of the above, the Company's financial statements, assurances and expectations with regard to the Company's growth, operations and business prospects were false and misleading at all relevant times.

You may obtain a copy of the Complaint and join the class action at www.saxenawhite.com

If you purchased World Acceptance stock between April 25, 2013 and March 12, 2014, inclusive, you may contact Lester Hooker (lhooker@saxenawhite.com) at Saxena White P.A. to discuss your rights and interests.

If you purchased World Acceptance common stock during the Class Period of April 25, 2013 through March 12, 2014, and wish to apply to be the lead plaintiff in this action, a motion on your behalf must be filed with the Court no later than June 23, 2014. You may contact Saxena White P.A. to discuss your rights regarding the appointment of lead plaintiff and your interest in the class action. Please note that you may also retain counsel of your choice and need not take any action at this time to be a class member.

Saxena White P.A., located in Boca Raton, specializes in prosecuting securities fraud and complex class actions on behalf of institutions and individuals. Currently serving as lead counsel in numerous securities fraud class actions nationwide, the firm has recovered hundreds of millions of dollars on behalf of injured investors and is active in major litigation pending in federal and state courts throughout the United States.

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