On August 28, 2020, a lawsuit was filed against Credit Acceptance by the Massachusetts Attorney General which alleges that the Company has, for years, been making deceptive and unfair automobile loans to thousands of Massachusetts consumers. The lawsuit also alleges that Credit Acceptance provided its investors with false and/or misleading information regarding the asset-backed securitizations which they offered to investors, and that the Credit Acceptance engaged in unfair debt collection practice. Credit Acceptance’s stock price fell $85.36 per share, or over 18%, in response to the public disclosure of the Mass AG lawsuit, to close at $374.07 per share over two trading days ending on September 1, 2020.
Credit Acceptance Corporation
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to email@example.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
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