Investors Say Curo's Bid To Nix Their Suit Misses The Point
Law360 (October 2, 2019, 2:39 PM EDT) -- Investors on Tuesday said their stock-drop suit against online lender Curo is about misrepresentations regarding a transition away from its most profitable product, not a simple failure to meet financial goals, as the company suggests.
The online lender said in an August dismissal bid that investors were trying to plead a "fraud by hindsight" case in alleging Curo misled them about a transition away from offering lucrative single-pay loans in Canada, which had drawn the scrutiny of regulators there, and into longer-term open-end loans.
The transition did not go as projected, Curo said, but it did fully disclose both the regulatory...
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