ALBERTA

Cash Store faces class-action lawsuit in Quebec over financial statements

07/16/2013 06:44 EDT | Updated 09/15/2013 05:12 EDT
EDMONTON - The Cash Store Financial Services Inc. (TSX:CSF) said Tuesday a class-action lawsuit has been filed against the company and some of its current and former officers in Quebec.

The legal proceeding follows similar lawsuits recently filed in the U.S., Alberta and Ontario and a previously disclosed complaint filed by Globis Capital Partners L.P.

The company said it will "defend itself vigorously" against the "unfounded allegations."

It said the plaintiffs allege it "made misrepresentations" in its company's quarterly and annual financial statements from Nov. 24, 2010 to May 24, 2014.

Cash Store operates 513 branches across Canada under the Cash Store Financial and Instaloans banners, as well as 27 locations in the United Kingdom.

The company provides short-term advances and other financial services to people who not be able to obtain them from traditional lenders.

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