We are investigating Conn’s, Inc. (CONN) (“Conn’s” or the “Company”) for potential violations of the federal securities laws.
On December 10, 2019, before the market opened, Conn’s reported its third quarter 2020 financial results in a press release. Therein, the Company reported retail revenues of $280.3 million, compared to $284.1 million in the prior year period. Conn’s attributed the revenue decline to a decrease in same store sales, which “reflects underwriting adjustments made during the three months ended October 31, 2019.” On this news, Conn’s stock price fell $6.85 per share, or 33.41%, to close at $13.65 per share on December 10, 2019.