NEW YORK, Oct. 30, 2022 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Conn’s, Inc. (“Conn’s” or the “Company”) (NASDAQ: CONN). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Conn’s and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

[Click here for information about joining the class action]

On October 18, 2022, Conn’s issued a press release announcing that the Company’s “President and Chief Executive Officer Chandra Holt has stepped down from her position and from the Company’s Board effective immediately.” In the same press release, Conn’s provided an update on the Company’s performance. Citing “macroeconomic headwinds, which is impacting consumer spending and disproportionately affecting year-over-year sales to the Company’s financial access customer segment and sales of discretionary product categories,” Conn’s stated that it “currently expects total revenue for the fiscal year 2023 third quarter to be down 21% to 23%” and “operating margin for the fiscal year 2023 third quarter to be negative mid-single digits.” 

On this news, Conn’s stock price fell $1.20 per share, or 14.8%, to close at $6.91 per share on October 18, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

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