Upbound Group’s Acima Leasing Responds to Litigation Filed by NY Attorney General Based on Previously Disclosed Investigation
Upbound Group, Inc. (UPBD)
Company Research
Source: Business Wire
PLANO, Texas--(BUSINESS WIRE)--Acima Leasing (“Acima”), one of the leading providers of lease-to-own solutions and a business of Upbound Group, Inc. (NASDAQ: UPBD) (“Upbound” or the “Company”), responded to the lawsuit filed today by the New York Attorney General’s office (“NYAG”) against Acima despite Acima’s extensive and continuing cooperation with the NYAG’s previously disclosed investigation. Notwithstanding active and ongoing settlement discussions between the parties, the NYAG suddenly and inexplicably filed its lawsuit today. Following the NYAG’s precipitous and unwarranted action, Acima will vigorously defend itself against these allegations, many of which relate to historical periods prior to Upbound’s acquisition of Acima and which include the NYAG’s attempt to recharacterize well-established lease-to-own transactions as lending transactions contrary to established law. Lease-to-own transactions are among the most flexible and inclusive shopping options in the market, s
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