San Diego, CA -- (SBWIRE) -- 11/11/2022 -- An investigation was announced over potential breaches of fiduciary duties by certain officers and directors at PROG Holdings, Inc.

Investors who purchased shares of PROG Holdings, Inc. (NYSE: PRG) 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 concerns whether certain PROG Holdings directors breached their fiduciary duties and caused damage to the company and its shareholders.

Draper, UT based PROG Holdings, Inc. operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. PROG Holdings, Inc. reported that its annual Total Revenue rose from over $2.48 billion in 2020 to over $2.67 billion in 2021, and that Net Loss of $61.46 million in 2020 turned into a Net Income of $243.55 million in 2021.

On August 25, 2022, Pennsylvania's Attorney General filed a lawsuit against PROG Holdings' Progressive Leasing unit for allegedly violating the Rental Purchase Agreement Act ("RPAA"), a law that requires companies to clearly disclose fees for rent-to-own financing. According to the lawsuit, agents of the Attorney General's Office visited multiple stores across the state that use Progressive Leasing to offer rental-purchase agreement to their customers. "The investigation revealed widespread non-compliance" with the RPAA's disclosure requirements by Progressive Leasing and its merchant partners, the Attorney General's Office said in a statement.

Shares of PROG Holdings, Inc. (NYSE: PRG) declined from $22.90 per share on August 8, 2022, to $12.11 per share on October 21, 2022.

Those who purchased shares of PROG Holdings, Inc. (NYSE: PRG) 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.