World Acceptance Corporation
|Company Name||World Acceptance Corporation|
On June 14, 2017, World Acceptance disclosed that it would postpone filing its annual report, citing an internal probe of its Mexico operations, focusing on the legality under the U.S. Foreign Corrupt Practices Act and certain local laws of certain payments related to loans, the maintenance of the Company’s books and records associated with such payments, and the treatment of compensation matters for certain employees. On this news, World Acceptance shares dropped $10.30, or 12.3%, to close at $73.00 on June 15, 2017.
Then on August 8, 2017, World Acceptance announced that the SEC had “issued a formal order of investigation” in connection with its internal probe of its Mexico operations.
On this news, World Acceptance shares fell $1.74 per share, or 2.2%, to close at $78.68 on August 9, 2017, thereby injuring investors.
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