Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Credit Acceptance Corporation Investors: Please contact the Portnoy Law Firm to recover your losses

PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
January 5, 2023 GMT

Investors cancontactthe law firm at no cost to learn more about recovering their losses

LOS ANGELES, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Credit Acceptance Corporation (“CAC” or the “Company”) (NASDAQ: CACC) investors that a lawsuit filed on behalf of investors that purchased securities.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email:, to discuss their legal rights, or click here to join the case via The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

On January 4, 2023, New York Attorney General Letitia James and the Consumer Financial Protection Bureau (“CFPB”) issued a press release announcing that they had sued CAC “for deceiving thousands of low-income New Yorkers into high-interest car loans.” The press release specified that “[t]he lawsuit alleges that CAC pushed unaffordable loans onto tens of thousands of low-income consumers throughout the state without considering their ability to repay their loans in full. CAC misstated key terms on loan agreements, including the principal and interest amounts, and did not disclose thousands of dollars in credit charges. In addition, CAC packaged these illegal loans into securities that it sold to investors. These deceptive lending practices lowered consumers’ credit scores and cost New Yorkers millions of dollars. The lawsuit seeks to end CAC’s abusive and deceptive practices, reform or eliminate existing CAC loan agreements, and collect restitution for impacted consumers.”


On this news, CAC’s stock price fell $52.99 per share, or 11.61%, to close at $403.49 per share on January 4, 2023.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar

Attorney Advertising