CREDIT ACCEPTANCE CLASS ACTION UPDATE BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors of Lead Plaintiff Deadline in Class Action Lawsuit Against Credit Acceptance Corporation - CACC

New Orleans, Louisiana--(Newsfile Corp. - October 15, 2020) -  Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have until December 1, 2020 to file lead plaintiff applications in a securities class action lawsuit against Credit Acceptance Corporation (NasdaqGS: CACC), if they purchased the Company's shares between November 1, 2019 and August 28, 2020, inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of Michigan.

What You May Do

If you purchased shares of Credit Acceptance and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-cacc/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 1, 2020.

About the Lawsuit

Credit Acceptance and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On August 28, 2020, the Attorney General of Massachusetts filed a lawsuit against the Company for allegedly unfair and deceptive automobile loans it made to thousands of Massachusetts consumers, providing its investors with false and/or misleading information regarding the asset-backed securitizations offered, and for unfair debt collection practices.

On this news, the price of Credit Acceptance's shares plummeted.

The case is Palm Tran, Inc. Amalgamated Transit Union Local 1577 Pension Plan V. Credit Acceptance Corporation, et al, 20-cv-12698.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients - including public institutional investors, hedge funds, money managers and retail investors - in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66106