619-342-8000San Diego – (Businesswire): Haeggquist & Eck, LLP, a leading shareholder rights litigation firm, is investigating whether certain directors and officers of Encore Capital Group, Inc. (“Encore”) (NASDAQ:ECPG) breached their fiduciary duties to Encore and its shareholders. If you are an Encore shareholder, you are encouraged to contact Amber Eck at Haeggquist & Eck for additional information.
Encore, headquartered in San Diego, and its subsidiaries are the largest publicly traded debt buyer by revenue in the United States. Haeggquist & Eck is investigating whether members of Encore’s Board of Directors failed to manage Encore in an acceptable manner, in breach of their fiduciary duties to Encore, and whether Encore has suffered damages as a result.
On September 8, 2020, the Consumer Financial Protection Bureau (“CFPB”) filed a complaint alleging that Encore and its subsidiaries violated a consent order “by suing consumers without possessing required documentation, using law firms and an internal legal department to engage in collection efforts without providing required disclosures, and failing to provide consumers with required loan documentation after consumers requested it.” On this news, Encore shares fell $3.59 per share, or nearly 10%, to close at $42.29.
Then, on October 15, 2020, Encore announced that it had paid $15 million to settle the CFPB complaint. On this news, the company’s stock dropped again.
What You Can Do
If you are an Encore shareholder, you may have legal claims against its directors and officers. If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber Eck at 619-342-8000 or e-mail her at ambere@haelaw.com. There is no cost or obligation to you.
Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested.
This release constitutes attorney advertising. Past results do not guarantee a similar outcome.
Contact:
Haeggquist & Eck, LLP
619-342-8000
Amber Eck, ambere@haelaw.com
