NEW YORK, Sept. 21, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against PROG Holdings, Inc. PRG, UiPath, Inc. PATH, and Intuit, Inc. INTU. Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
PROG Holdings, Inc. PRG
On August 25, 2022, Pennsylvania’s Attorney General filed a lawsuit against PROG’s Progressive Leasing unit for allegedly violating the Rental Purchase Agreement Act (“RPAA”), a law that requires companies to clearly disclose fees for rent-to-own financing. According to the lawsuit, agents of the Attorney General’s Office visited multiple stores across the state that use Progressive Leasing to offer rental-purchase agreement to their customers. “The investigation revealed widespread non-compliance” with the RPAA’s disclosure requirements by Progressive Leasing and its merchant partners, the Attorney General’s Office said in a statement.
On 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.
For more information on the PROG investigation go to: https://bespc.com/cases/PRG
UiPath, Inc. PATH
On September 6, 2022, UiPath reported second quarter earnings including a reduction in its forecast for the year. The Company blamed the disappointing news on foreign currency concerns and macroeconomic uncertainty.
Based on this news, UiPath’s stock price fell $2.27 per share, or 14%, to close at $13.84 per share on September 7, 2022.
For more information on the UiPath investigation go to: https://bespc.com/cases/PATH
Intuit, Inc. INTU
On March 29, 2022, the FTC filed a lawsuit against Inuit claiming that the company has deceived millions of Americans into paying for tax service preparation software that should be free. On May 4, 2022, Intuit agreed to pay $141 million to settle similar allegations regarding Turbo Tax.
On this new, Intuit’s stock fell $22.14, or 5.1%, to close at $409.86 on May 5, 2022.
For more information on the Intuit investigation go to: https://bespc.com/cases/INTU
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.