RAC To Pay $3.6M To Settle Public Offering Suit

Law360, New York (November 1, 2007, 12:00 AM EDT) -- Rent-A-Center Inc. has agreed to pay $3.6 million to settle a consolidated securities class action lawsuit related to the company's 2001 public offering.

In a motion filed Tuesday in the U.S. District Court for the Eastern District of Texas, the plaintiffs said the settlement is fair and reasonable. The deal still has to gain court approval.

In its third-quarter financial report released Monday, RAC said: “While the company believes that the terms of this prospective settlement are fair, there can be no assurance that the settlement,...
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