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NEW YORK, January 06, 2022 (GLOBE NEWSWIRE) – Bragar Eagel & Squire, PC, a nationally recognized law firm, is investigating potential claims against FirstCash, Inc. (NASDAQ: FCFS), Talkspace, Inc . (NASDAQ: TALK), Rollins, Inc. (NYSE: ROL) and Purple Innovation, Inc. (NASDAQ: PRPL). Our investigations focus on whether these companies have violated federal securities laws and / or engaged in other illegal business practices. Additional information on each case can be found at the link provided.
FirstCash, Inc. (NASDAQ: FCFS)
On November 12, 2021, the Consumer Financial Protection Bureau (“CFPBâ€) filed a lawsuit against FirstCash and Cash America West, alleging that the two companies had violated the Military Lending Act by charging a rate higher than the authorized annual rate. 36% on pawn shops. active duty military personnel and their dependents. The CFPB lawsuit seeks an injunction, compensation for the borrowers concerned and a civil fine.
Following this news, the FirstCash share price fell $ 7.50 per share, or 8.71%, to close at $ 78.64 per share on November 12, 2021.
For more information on the FirstCash survey, visit: https://bespc.com/cases/FCFS
Talkspace, Inc. (NASDAQ: TALK)
On November 15, 2021, after marketing, Talkspace issued a press release “announced[ing] . . . that its co-founder and CEO, Oren Frank, has stepped down as CEO and board member of Talkspace, effective today. Shortly thereafter, on the same day, Talkspace issued a press release reporting its financial results for the third quarter of 2021. Among other items, Talkspace revealed that its net sales for the quarter “were below expectations. of management due to a lower number of B2Cs. [business-to-consumer] customers and a one-time adjustment of the non-cash reserve for credit losses on receivables relating to prior periods.
Following this news, the Company’s share price fell $ 1.23 per share, or approximately 36.3%, from $ 3.39 per share to close at $ 2.16 per share on the 16th. November 2021.
For more information on the Talkspace survey, visit: https://bespc.com/cases/TALK
Rollins, Inc. (NYSE: ROL)
On October 28, 2020, Rollins disclosed a U.S. Securities and Exchange Commission (“SEC”) investigation into how the company determined accruals and reserves at period end and the impact of these charges and reserves on declared profits for the periods beginning January 1, 2015. The company’s annual report subsequently filed later disclosed the results of an internal investigation initiated by the company which revealed a material deficiency in the company’s internal controls concerning the documentation and review of accounting entries for certain reserves and accrued liabilities. Then, on October 29, 2021, Rollins announced that it had entered into discussions with SEC staff regarding a possible investigative resolution.
For more information on the Rollins survey, please visit: https://bespc.com/cases/ROL
Purple Innovation, Inc. (NASDAQ: PRPL)
On November 9, 2021, Purple reported disappointing third quarter results “largely due to the impacts of our manufacturing backlog which lasted longer than expected. Our lack of inventory has impacted sales across all of our channels which are deeply interconnected.
Following this news, Purple’s stock fell 24%. Following this news, the Company’s share price fell $ 1.23 per share, or approximately 36.3%, from $ 3.39 per share to close at $ 2.16 per share on the 16th. November 2021.
For more information on the Purple investigation, please visit: https://bespc.com/cases/PRPL
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York City, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation in state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertising. Past results do not guarantee similar results.
Contact details:
Bragar Eagel & Squire, PC
Brandon Walker, Esq.
Alexandra B. Raymond, Esq.
(212) 355-4648
Copyright 2022 GlobeNewswire, Inc.
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