ACCESS Newswire
24 Jan 2023, 23:49 GMT+10
NEW YORK, NY / ACCESSWIRE / January 24, 2023 / Kehoe Law Firm, P.C. is investigating whether certain directors and officers FG New America Acquisition Corp. ('FG New America') (NYSE:FGNA); now known as OppFi Inc. ('OppFi') (NYSE:OPFI), breached their fiduciary duties to FG New America's shareholders.
The investigation concerns whether FG New America's board of directors or executive officers breached their duties of disclosure, duties of candor, and requirements to act in good faith, and whether FG New America's shareholders suffered damages as a result.
On July 16, 2021, FG New America shareholders of record as of June 21, 2021 approved a merger between FG New America and OppFi.
In March 2022, the California Department of Financial Protection and Innovation sued OppFi for regulatory violations and exceeding interest rate caps, and both the CEO and the CFO resigned within a few days thereof.
On December 9, 2022, OppFi announced that its Audit Committee determined that all financial statements for 2021 'should no longer be relied upon due to a misapplication of accounting guidance in connection with the Company's calculations of diluted earnings per share for such periods.'
OppFi's stock price has declined significantly since the merger.
INVESTORS OF OPPFI STOCK WHO HELD FG NEW AMERICA SHARES ARE ENCOURAGED TO CLICK HERE TO CONTACT KEHOE LAW FIRM, P.C. AND PROVIDE DETAILS OF THEIR KATAPULT/FINSERV SECURITIES.
OPPFI SHAREHOLDERS WHO HELD FG NEW AMERICA STOCK ARE ALSO ENCOURAGED TO CONTACT MICHAEL YARNOFF, ESQ., (215) 792-6676, EXT. 804, [email protected], [email protected], TO LEARN MORE ABOUT THE INVESTIGATION OR POTENTIAL LEGAL CLAIMS.
Kehoe Law Firm, P.C., with offices in New York and Philadelphia, is a multidisciplinary, plaintiff-side law firm dedicated to protecting investors from securities fraud, breaches of fiduciary duties, and corporate misconduct. Combined, the partners at Kehoe Law Firm, P.C. have served as Lead Counsel or Co-Lead Counsel in cases that have recovered more than $10 billion on behalf of institutional and individual investors.
This press release may constitute attorney advertising.
Contact:
Michael Yarnoff, ESQ.
Kehoe Law Firm, P.C.
(215) 792-6676, Ext. 804
[email protected]
SOURCE: Kehoe Law Firm, P.C.
Get a daily dose of Memphis Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Memphis Sun.
More InformationWASHINGTON, DC - U.S. President Donald Trump on Tuesday claimed Elon Musk's success has been built on government subsidies. Without...
EVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
SANTA CLARA, California: Executives at Nvidia have quietly been cashing in on the AI frenzy. According to a report by the Financial...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...