NEW YORK, July 15, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at World Acceptance Corp. ("World Acceptance" or the "Company") (NASDAQ: WRLD).
The investigation focuses on whether World Acceptance and certain of its executives and/or directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On July 3, 2013, World Acceptance issued a press release stating that "we were unable to file certain portions of our Annual Report . . . because of unexpected delays in completing our financial statements relating to additional review and analysis needed to support the Company's allowance for loan losses" and, as a result of management's ongoing assessment of these issues, "it is possible that the Company's amended Form 10-K will report a material weakness in its internal control over financial reporting relating to its process for determining its allowance for loan losses. . . ."Following this news, the price of World Acceptance stock fell more than 11%, to a closing price of $78.20 per share on July 5, 2013, on heavy trading volume. Request more information now by clicking here: www.faruqilaw.com/WRLD. There is no cost or obligation to you. Take Action If you invested in World Acceptance stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/WRLD. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding World Acceptance's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner. FARUQI & FARUQI, LLP369 Lexington Avenue, 10th Floor New York, NY 10017Attn: Richard Gonnello, Esq. email@example.com Francis McConville, Esq. firstname.lastname@example.orgTelephone: (877) 247-4292 or (212) 983-9330 SOURCE Faruqi & Faruqi, LLP