Credit Acceptance Investors May Have Legal Claims – CACC
Date01 Feb 2023//
CategoriesBlog, Shareholder Investigations
Investors of Credit Acceptance Stock Since At Least January 1, 2023 Encouraged to Contact Kehoe Law Firm, P.C. – Breach of Fiduciary Duties Investigation
Kehoe Law Firm, P.C. is investigating whether certain directors and officers of Credit Acceptance Corporation (“Credit Acceptance”) (NASDAQ: CACC) breached their fiduciary duties to Credit Acceptance and its shareholders.
The investigation concerns whether members of Credit Acceptance’s board of directors or senior management failed to manage Credit Acceptance in an acceptable manner, in breach of their fiduciary duties to Credit Acceptance, and whether Credit Acceptance and its shareholders have suffered damages as a result.
On January 4, 2023, the Consumer Financial Protection Bureau and the New York Attorney General filed a lawsuit against Credit Acceptance, accusing Credit Acceptance of luring consumers into unaffordable loans and then repackaging those loans into securities, dumping the resulting notes on unsuspecting investors.