Bragar Eagel & Squire, PC investigates RBC, Intuit, Rollins and PROG and encourages… | New
NEW YORK, Sept. 06, 2022 (GLOBE NEWSWIRE) — Bragar Eagel & Squire, PC, a nationally recognized shareholder rights law firm, is investigating potential claims against RBC Bearings Incorporated (NASDAQ: ROLL), Intuit, Inc. (NASDAQ: INTU), Rollins, Inc. (NYSE: ROL) and PROG Holdings, Inc. (NYSE: PRG). Our investigations focus on whether these companies have violated federal securities laws and/or engaged in other illegal business practices. Additional information on each case can be found at the link provided.
RBC Incorporated Bearings (NASDAQ: ROLL)
On August 4, 2022, in a filing with the U.S. Securities and Exchange Commission, RBC disclosed “that the consolidated financial statements previously issued at and for the years ended April 2, 2022, April 3, 2022 and March 28 2020 and the consolidated financial statements for the quarters (the “Affected Periods”) included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 26, 2022 contained an error related to stock accounting non-monetary -compensation granted to the Company’s Chief Executive Officer and Chief Operating Officer. As a result of this error, the Audit Committee has determined that the Company’s consolidated financial statements for the affected periods included in the 2022 Annual Report on Form 10-K should not be relied upon and should be restated by adjusting fees. sales, general and administrative to reflect the non-cash stock-based compensation that should have been recognized in each of the relevant periods. »
On this news, RBC’s stock price fell $16.68 per share, or 6.71%, to close at $231.91 per share on August 4, 2022.
For more information on the RBC survey, visit: https://bespc.com/cases/ROLL
Intuit, Inc. (NASDAQ: INTU)
On March 29, 2022, the FTC filed a lawsuit against the Inuit, claiming the company deceived millions of Americans into paying for tax preparation software that should be free. On May 4, 2022, Intuit agreed to pay $141 million to settle similar Turbo Tax allegations.
On this news, Intuit’s stock fell $22.14, or 5.1%, to close at $409.86 on May 5, 2022.
For more information on Intuit’s survey, visit: https://bespc.com/cases/INTU
Rollins, Inc. (NYSE: ROL)
On October 28, 2020, Rollins disclosed a U.S. Securities and Exchange Commission (“SEC”) investigation into how the company determined period-end accruals and reserves and the impact of these accrued liabilities and earnings reserves reported for the periods beginning January 1, 2015 The company’s subsequently filed annual report disclosed the results of an internal investigation initiated by the company that revealed a material deficiency in internal controls of the company relating to the documentation and review of accounting entries for certain reserves and accrued liabilities. Then, on October 29, 2021, Rollins reported that he had entered into discussions with SEC staff regarding a possible investigative resolution.
For more information on the Rollins investigation, visit: https://bespc.com/cases/ROL
PROG Holdings, Inc. (NYSE:PRG)
On August 25, 2022, the Pennsylvania Attorney General filed a lawsuit against PROG’s Progressive Leasing Unit for allegedly violating the Lease Purchase Agreement Act (“RPAA”), a law that requires businesses clearly disclose lease-purchase financing charges. According to the lawsuit, agents from the attorney general’s office visited several stores across the state that use Progressive Leasing to offer a lease-to-own arrangement to their customers. “The investigation revealed widespread non-compliance” with PRAA disclosure requirements by Progressive Leasing and its merchant partners, the attorney general’s office said in a statement.
On this news, PROG’s stock price fell $2.51 per share, or 12.14%, to close at $18.16 per share on August 26, 2022.
For more information on the PROG survey, visit: https://bespc.com/cases/PRG
About Bragar Eagel & Squire, PC:
Bragar Eagel & Squire, PC is a nationally recognized law firm with offices in New York, California and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivatives and other complex litigation before state and federal courts across the country. For more information about the company, please visit www.bespc.com. Lawyer advertisement. Prior results do not guarantee similar results.
Bragar Eagel & Squire, CP
Brandon Walker, Esq.
Melissa Fortunato, Esq.