Class Action Cases

Join the case to recover your losses. Click "Join this Class Action" above.

Attorneys

Credit Acceptance Corporation

Join Class Action »

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Credit Acceptance is the target of a lawsuit filed on January 4, 2023, by the Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James over predatory lending practices. CFPB Director Rohit Chopra said in a statement that the Company “obscured the true cost of its loans,” and then subjected consumers to financial distress and aggressive debt collection “on loans its own systems predicted that borrowers can’t afford to repay.” Based on this news, shares of Credit Acceptance fell by more than 11.6% on the same day.

Press Release

INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against Credit Acceptance Corporation and Encourages Investors with Losses to Contact the Firm

Los Angeles, January 4, 2023  — The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Credit Acceptance Corporation (“Credit Acceptance” or “the Company”) (NASDAQ: CACC) for violations of the securities laws.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Credit Acceptance is the target of a lawsuit filed on January 4, 2023, by the Consumer Financial Protection Bureau (CFPB) and New York Attorney General Letitia James over predatory lending practices. CFPB Director Rohit Chopra said in a statement that the Company “obscured the true cost of its loans,” and then subjected consumers to financial distress and aggressive debt collection “on loans its own systems predicted that borrowers can’t afford to repay.” Based on this news, shares of Credit Acceptance fell by more than 11.6% on the same day.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.

310-301-3335

info@schallfirm.com

www.schallfirm.com

Cases

  • Drop files here or
    Accepted file types: xls, xlsx, doc, pdf, jpg, jpeg, Max. file size: 32 MB, Max. files: 5.
      You may redact your account numbers from your uploaded documents. The Schall Law Firm is committed to protecting the privacy of confidential information. Your documents will be securely held in AWS S3 and will only be used as proof of your transactions in connection with this matter.
    • Purchases
      MM slash DD slash YYYY
      If fractional shares, please round to the nearest whole number.
    • Sales
      MM slash DD slash YYYY
    • By submitting your information, you acknowledge that this form does not create an attorney-client relationship between yourself and The Schall Law Firm. Any information you submit will be maintained as confidential. The Schall Law Firm, in its sole discretion, will contact you if it requires further information from you.