Aaron’s Lease-to-Own Cleared in Shareholder Stock Drop Lawsuit

Lease-to-own furniture retailer Aaron’s Inc. shook off a proposed securities class action over a stock drop allegedly caused by the disclosure of a Federal Trade Commission investigation into its leasing practices.

The claims fail because lead plaintiff Laborers Pension Trust Fund for Northern Nevada failed to show that Aaron’s and its corporate officers intended to defraud investors, Judge J. P. Boulee of the US District Court for the Northern District of Georgia said.

Laborers alleged that Aaron’s made 157 false and misleading statements about its financial performance and sustainable growth, its restructuring program, compliance with state and local laws, its ...