GRABAR LAW OFFICE INVESTIGATES POTENTIAL SHAREHOLDER DERIVATIVE ACTION ON BEHALF OF INVESTORS OF WORLD ACCEPTANCE CORP. (NASDAQ: WRLD)

It is alleged that the officers and directors of World Acceptance Corp. violated federal laws governing commerce and trade, including: (i) acts of bribery that occurred under their direction and on their watch; (ii) failures to make and keep books, records, and accounts which accurately and fairly reflected the transactions and dispositions of the assets of the Company; (iii) failures to devise and maintain a system of internal accounting controls; and (iv) failures to maintain adequate controls over financial reporting.

As a result of the misconduct World Acceptance and certain of the officers and directors became the subjects of investigations commenced by the DOJ and the SEC. The SEC’s investigation culminated in an August 6, 2020 Administrative Proceeding against World Acceptance, whereby the SEC accepted the Company’s Offer of Settlement for a total of $21,726,000. Moreover, in an August 5, 2020 Declination Letter, the DOJ, like the SEC, asserted that bribery was committed by employees of the Company and its subsidiaries in Mexico. In addition to the $21,726,000 sanction against World Acceptance, the SEC has also ordered that the Company cease-and-desist from committing or causing any violations and any future violations of §§ 30A, 13(b)(2)(A), and 13(b)(2)(B) of the Securities Exchange Act of 1934 (the “Exchange Act”).

Current World Acceptance Corp. shareholders who have held shares of the Company’s stock since at least April 25, 2013 have standing to seek corporate governance reforms, the return of funds back to company coffers and potentially a court approved incentive award if appropriate. $WRLD

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