NEW YORK, July 18, 2008 (LAWFUEL) — The Brualdi Law Firm P.C.
announces that a lawsuit has commenced in the United States District
Court for the Northern District of Georgia on behalf of purchasers of
CompuCredit Corporation (“CompuCredit” or “the Company”) (Nasdaq:CCRT)
common stock during the period between November 6, 2006 through June 9,
2008 (the “Class Period”).
No class has yet been certified in the above action. Until a class is
certified, you are not represented by counsel unless you retain one. If
you purchased CompuCredit common stock during the period described
above, you have certain rights, and have until no later than 60 days
from July 14, 2008 in which to move for Lead Plaintiff status. Any
member of the purported class may move the Court to serve as lead
plaintiff through counsel of their choice, or may choose to do nothing
and remain an absent class member.
To be a member of the class you need not take any action at this time,
and you may retain counsel of your choice. If you wish to discuss this
action or have any questions concerning this Notice or your rights or
interests with respect to these matters, please contact Sue Lee at The
Brualdi Law Firm, 29 Broadway, Suite 2400, New York, New York 10006, by
telephone toll free at (877) 495-1187 or (212) 952-0602, by email to
slee@brualdilawfirm.com or visit our website at
The complaint alleges that during the Class Period, defendants issued
materially false and misleading statements regarding the Company’s
business and financial results. As a result of defendants’ false
statements, CompuCredit stock traded at artificially inflated prices
during the Class Period, reaching its Class Period high of $40.61 per
share in December 2006. Then, on June 10, 2008, The Wall Street Journal
reported that federal regulators were expected to seek more than $100
million in fines and restitution against CompuCredit related to
deceptive credit-card marketing tactics and abusive debt-collection
practices. On this news, CompuCredit’s stock dropped $2.49 per share to
close at $6.30 per share on June 10, 2008, a one-day decline of 28% on
extremely high volume.
