NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of PROG Holdings, Inc. (“PROG” or the “Company”) PRG. Those investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, extension 9980.

The investigation concerns whether PROG and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

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On August 25, 2022, the Pennsylvania Attorney General filed a lawsuit against PROG’s Progressive Leasing unit for alleged violations of the Rent-to-Purchase Agreement (“RPAA”), a law that requires companies to clearly disclose fees for hire-to-own financing. According to the lawsuit, agents from the attorney general’s office visited several stores across the state that use progressive leasing to offer hire-purchase agreements to their customers. “The investigation revealed widespread non-compliance” with the RPAA’s disclosure requirements by Progressive Leasing and its trading partners, the attorney general’s office said in a statement.

As a result of this news, PROG’s stock price fell $2.51 per share, or 12.14%, to close at $18.16 per share on August 26, 2022.

The Pomerantz law firm, with offices in New York, Chicago, Los Angeles and Paris, is one of the leading law firms in the areas of corporate, securities and antitrust litigation. Founded by the late Abraham L. Pomerantz, known as Dean of the Class Attorney’s Association, the Pomerantz firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz law firm continues the tradition he established and fights for the rights of victims of securities fraud, breaches of fiduciary duty and corporate misconduct. The firm has recovered numerous multi-million dollar claims on behalf of group members. See www.pomerantzlaw.com

CONTACT:
Robert S Willoughby
Pomerantz LLP
[email protected]