San Diego, CA -- (SBWIRE) -- 02/13/2023 -- Credit Acceptance Corporation is under investigation over potential securities laws violations in connection with certain financial statements.

Investors who purchased shares of Credit Acceptance Corporation (NASDAQ: CACC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Credit Acceptance Corporation (NASDAQ: CACC) concerning whether a series of statements by Credit Acceptance Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Southfield, MI based Credit Acceptance Corporation provides financing programs, and related products and services to independent and franchised automobile dealers in the United States. Credit Acceptance Corporation reported that its annual Total Revenue declined from $1.85 billion in 2021 to $1.74 billion in 2022 and that its Net Income decreased from $958.3 million in 2021 to $535.8 million in 2022.

On January 4, 2023, the Consumer Financial Protection Bureau and the New York State Attorney General's Office announced the filing of a complaint against Credit Acceptance. The lawsuit alleged that Credit Acceptance, a subprime auto lender, hid the true costs of its borrowings, used aggressive debt-collection tactics, and violated New York usury laws on interest-rate limits and other investor-protection laws.

Shares of Credit Acceptance Corporation (NASDAQ: CACC) declined to $358.00 per share on January 5, 2023.

Those who purchased shares of Credit Acceptance Corporation (NASDAQ: CACC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Christopher Clausen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.