EZCorp Must Face Some Of Investors' Securities Fraud Claims

Law360, New York (May 9, 2017, 4:25 PM EDT) -- A Texas federal court declined on Monday to give short-term lender EZCorp Inc. and its CEO another quick exit in a proposed securities fraud class action, ruling that investors had mustered enough evidence on a second try to support some of their allegations about deceptive accounting practices.

U.S. District Judge Sam Sparks found investors Wu Winfred Huang and John Rooney had done a better job of using confidential witnesses in their second amended complaint, denying EZCorp’s bid to dismiss their claim that CEO Mark Kuchenrither acted knowingly when he characterized certain loan sales as revenue in violation of generally accepted accounting...

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