|[February 20, 2014]
Law Offices of Howard G. Smith Announces Investigation on Behalf of Investors of Conn's, Inc.
BENSALEM, Pa. --(Business Wire)--
Offices of Howard G. Smith announces that it is investigating
potential claims on behalf of investors of Conn's, Inc. ("Conn's" or the
"Company") (NASDAQ:CONN) concerning possible violations of federal
securities laws. The investigation focuses on certain statements issued
by Conn's concerning the Company's operations and financial performance
Conn's is a specialty retailer of durable consumer products, including
home appliances, furniture, consumer electronics and home office
products. The investigation is related to the Company's February 20,
2014, announcement of preliminary fourth-quarter fiscal 2014 financial
results and updated fiscal 2015 earnings uidance. The Company announced
that it expects diluted earnings per share for the fourth quarter of
fiscal 2014 and the three months ended January 31, 2014, to be below the
Company's previously issued full-year fiscal 2014 guidance. According to
a Company-issued press release, the decline "reflects the impact of
increased provision for bad debt due to higher-than-expected accounts
receivable charge-offs and delinquency rates in December and January,
and portfolio growth."
The Company also updated its full-year fiscal 2015 earnings guidance "to
reflect the impact of higher-than-anticipated recent delinquency rates
and lower expected sales increases, principally in the electronics
category." The Company currently expects to generate diluted earnings
per share of $3.40 to $3.70 for the fiscal year ending January 31, 2015,
which is below previous guidance of $3.80 to $4.00 per diluted share.
Following this news, Conn's stock dropped as much as 40% below its
previous closing price, in intraday trading on February 20, 2014.
If you purchased Conn's shares, if you have information or would like to
learn more about these claims, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Howard G. Smith, Esquire, of Law Offices of
Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by
email to firstname.lastname@example.org,
or visit our website at www.howardsmithlaw.com.
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