The Financial Troubles Unveiled
Law Offices of Howard G. Smith continues its investigation on behalf of Conn’s, Inc. (“Conn’s” or the “Company”) CONN investors concerning the Company’s possible violations of federal securities laws.
Stock Price Tumbles After News Breaks
On June 26, 2024, Bloomberg reported that Conn’s hired a financial adviser to help rework its debt load and integrate a chain of stores it bought last year. The stock price spiraled downward, plummeting by $0.75, or 38.3%, over two consecutive trading days, closing at $1.21 per share on June 27, 2024.
The Final Blow: Bankruptcy Filing
Subsequently, on July 24, 2024, Bloomberg reported that Conn’s had filed for bankruptcy. The report stated that the Company “plans to shut down after trouble integrating a recent acquisition compounded the pain of lagging sales.” Following this announcement, Conn’s stock price nosedived by $0.16, or 31%, closing at $0.35 per share on July 24, 2024.
Investor Concerns and Legal Steps
Investors who purchased Conn’s securities and have concerns regarding these events are urged to reach out to Howard G. Smith, Esquire, of Law Offices of Howard G. Smith for more information. The impact of these developments has consequently led to a loss for many investors.
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