NEW YORK, June 10, 2008 (LAWFUEL) — Roy Jacobs & Associates
announces that it is investigating possible securities and other legal
violations regarding a recent announcement regarding CompuCredit Corp.
(“CompuCredit” or the “Company”) (Nasdaq:CCRT) wherein the Federal
Trade Commission and the Federal Deposit Insurance Corporation are
filing charges against CompuCredit and are seeking fines and the
payment of very substantial restitution from CompuCredit for having
used deceptive marketing tactics and abusive debt collection practices
in its business.
If you are interested in discussing this matter please call
1-888-884-4490 or email to rjacobs@jacobsclasslaw.com.
The Company had previously disclosed that it was in settlement
discussions with the FDIC and the FTC in connection with the agencies’
investigations of the Company’s credit card business and debt
collection practices, but stated that the Company did not believe that
any payments arising out of the investigations would be material, and
had not reserved for any such payments. However, it now appears that
the fines and the required restitution may well be very material.
CompuCredit’s shares are down over 20 percent on markedly increased
volume.
If you purchased CompuCredit shares during the period from August 2,
2006 through June 9, 2008 and hold them at a loss, or sold them on June
10, 2008 at a loss, or you have held CompuCredit shares for at least
one year and still hold them, and you are interested in discussing your
rights free of charge, please contact Roy L. Jacobs. Mr. Jacobs will
speak with you personally at no cost or obligation.