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This financial reporting fraud was a misrepresentation of the company’s financial condition and led to lawsuit filings from shareholders.
“Rent-Way and certain of its current and former officers have been served with a consolidated class action complaint filed in the US District Court for the Western District of Pennsylvania. The complaint alleges that, among other things, as a result of accounting improprieties, the Company's previously issued financial statements were materially false and misleading thus constituting violations of federal securities laws by the Company, by its auditors and by certain officers” (U...
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