Key Developments: Conn's Inc (CONN.OQ)

CONN.OQ on NASDAQ Stock Exchange Global Select Market

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29 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Conn's Inc appoints Mark Haley as interim chief financial officer - Form 8-K
Tuesday, 9 Dec 2014 07:01am EST 

Conn's Inc:Says departure of Brian E. Taylor, Conn’s vice president, chief financial officer and treasurer.Mark Haley, vice president and chief accounting officer of Conn’s, has been appointed as interim chief financial officer.  Full Article

Conn's Inc withdraws FY 2015 earnings guidance; gives Q4 2014 Same stores sales guidance
Tuesday, 9 Dec 2014 07:00am EST 

Conn's Inc:Withdraw earnings guidance for FY 2015 and is not currently providing earnings guidance with respect to FY 2016.Expects Q4 2014 Same stores sales flat to up 3 pct.  Full Article

Conn's lowers FY 2015 EPS guidance and reaffirms FY 2015 same store sales guidance
Tuesday, 2 Sep 2014 07:00am EDT 

Conn's Inc:Updates FY 2015 earnings guidance to a range of $2.80 - $3.00 per diluted share on an adjusted basis.Expects to generate diluted EPS of between $2.75 - $2.95 for the 12 months ended Jan. 31, 2015.Expects FY 2015 same store sales to increase 5pct to 10pct.FY 2015 EPS of $3.54 - Thomson Reuters I/B/E/S.  Full Article

Conn's Inc reaffirms FY 2015 EPS guidance
Monday, 2 Jun 2014 07:15am EDT 

Conn's Inc:Reaffirms FY 2015 guidance of $3.40 to $3.70 adjusted earnings per diluted share.FY 2015 EPS of $3.52 - Thomson Reuters I/B/E/S.  Full Article

Conn's Inc gives FY 2015 same store sales guidance
Thursday, 27 Mar 2014 07:00am EDT 

Conn's Inc:Expects FY 2015 same store sales to increase 5pct to 10pct.  Full Article

Conns Inc announces expansion of revolving credit facility
Thursday, 27 Mar 2014 06:50am EDT 

Conn's Inc:Expansion of its existing asset-based syndicated loan facility that matures Nov. 2017.Facility commitment increased $30.0 million to $880 mln.Lenders in syndicated facility include 17 commercial banks.  Full Article

Lieff Cabraser announces class action litigation against Conn's, Inc
Wednesday, 19 Mar 2014 09:00am EDT 

Lieff Cabraser Heimann & Bernstein, LLP:Says that a class action litigation has been brought on behalf of those who purchased the common stock and/or call options or sold/wrote the put options of Conn's, Inc, between April 3, 2013 and Feb. 19, 2014, inclusive.Actions allege that during the Class Period, defendants issued false and misleading statements or failed to disclose material adverse facts regarding Conn's business and prospects.Specifically, defendants allegedly misrepresented and failed to disclose that the company was increasing its business and financial results by using underwriting and collections practices.Conn's was experiencing rising delinquencies at a substantially different rate than it was representing to public.Conn's credit segment practices substantially threatened the Company's financial performance.  Full Article

Pomerantz LLP files class action lawsuit against Conns Inc
Tuesday, 18 Mar 2014 05:45pm EDT 

Pomerantz LLP:Files class action lawsuit against Conns Inc and certain of officers.Filed in United States District Court, Southern District of Texas, on behalf of class consisting of all persons or entities who purchased or acquired securities of Conns between Apr. 3, 2013 and Feb. 19.Complaint alleges that defendants issued false and misleading statements or failed to disclose adverse facts regarding Conn's business and prospects.  Full Article

Morgan & Morgan files class action lawsuits against Conn's, Inc
Thursday, 13 Mar 2014 10:00am EDT 

Morgan & Morgan:Files in United States District Court for the Southern District of Texas, on behalf of all purchasers of Conn's, Inc. common stock between April 3, 2013 and Feb. 19.Complaints allege that throughout the Class Period defendants misrepresented or failed to disclose increasing business and financial results by using underwriting and collections practices.Says that despite defendants' statements to contrary, weakened company's portfolio quality and left it vulnerable to substantial increases in bad debt.Company was experiencing rising delinquencies at substantially worse rate than it was representing.Company's credit segment practices substantially threatened the Company's financial performance.Company's statements were materially false and misleading at all relevant times or lacked a reasonable basis in fact.  Full Article

Wolf Haldenstein announces filing of securities class action against Conn's, Inc
Tuesday, 11 Mar 2014 09:30pm EDT 

Wolf Haldenstein Adler Freeman & Herz, LLP:Says that a class action lawsuit has been filed in the United States District Court for the Southern District of Texas on behalf of all persons or entities that purchased the securities of Conn's, Inc between April 3, 2013 and Feb. 19, 2014, inclusive.Complaint alleges that defendants failed to disclose negative trends in Conn's business, including that the Company faced increased bad debt expenses as a result of rising customer delinquency.On Feb. 20, the company issued a press release announcing preliminary fourth quarter 2014 results and updating 2015 projected guidance.In the release, the company revealed that the provision for bad debts at January 31, 2014 would exceed previously issued guidance that had been confirmed as recently as Dec. 2013.On this shocking news, the price of Conn's, Inc. common stock fell $23.91, to close at $31.89, a market capitalization drop of $860 million.  Full Article

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Texas retailer Conn's withdraws profit forecast, shares plunge

- Texas-based electronics and home appliance retailer Conn's Inc reported a quarterly loss, withdrew its 2015 profit forecast, and said its chief financial officer had resigned as its mainly low-income customers struggle with credit payments.

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