Turtle Creek Assets Sues Aaron's, Alleging Company Knew Customer Data Was Bad
Aarons Holdings Company, Inc. (AAN)
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Source: PR Newswire
ATLANTA, Feb. 19, 2020 /PRNewswire/ -- Turtle Creek Assets has sued Aaron's, Inc. (NYSE: AAN), a leading omnichannel provider of lease-purchase solutions, alleging Aaron's sold it bad borrower default data that has had a negative impact on the company and a collateral effect on thousands of consumers.Turtle Creek Assets, Ltd. (TCA) vs. Aaron's, Inc. (State Court of Cobb County, 20-A-628, Feb. 18, 2020) alleges that Aaron's sold TCA hundreds of millions of dollars worth of its delinquent accounts (e.g., lease to purchase agreements for furniture and other consumer merchandise that became delinquent) even though Aaron's knew the accounts had issues including being fraudulent accounts; accounts with identity theft issues; accounts on which Aaron's had previously pursued legal or criminal charges; and, accounts in bankruptcy and other issues. TCA maintains that Aaron's did this knowing that it had explicitly promised in a written agreement with TCA just the opposite; namely that the accou
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