World Acceptance Corp (WRLD) Share Price

$95.41

wow...just looked at the WRLD chart...

108

since this post, WRLD hit a low of 82.44 then peaked last week @ 151.38 as I post this WRLD is down, 121.72 -19.33 -13.70% ...I guess panic selling for something else???

https://grabarlaw.com/the-latest/world-acceptance-corp-investigation/

News: $WRLD ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against World Acceptance Corporation and Encourages Investors with Losses to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / August 8, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in World Acceptance Corporation ("World Acceptance" or "the Company") (NASDAQ: WRLD ) for potential breaches ...

Got this from WRLD - ONGOING INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against World Acceptance Corporation and Encourages Investors with Losses to Contact the Firm

Press Release
SEC Charges Consumer Loan Company With FCPA Violations
FOR IMMEDIATE RELEASE
2020-177

Washington D.C., Aug. 6, 2020 —
The Securities and Exchange Commission today announced that World Acceptance Corporation, a South Carolina-based consumer loan company, has agreed to pay $21.7 million to resolve charges that it violated the Foreign Corrupt Practices Act (FCPA).

The SEC’s order finds that from at least December 2010 through June 2017, World Acceptance Corporation’s former Mexican subsidiary, WAC de Mexico S.A. de C.V., paid more than $4 million in bribes to Mexican government officials and union officials to secure the ability to make loans to government employees and ensure that those loans were repaid in a timely manner. According to the SEC’s order, WAC Mexico paid the bribes in a variety of ways, including by depositing money into bank accounts linked to the officials and by hiring an intermediary to distribute large bags of cash among the officials. The SEC’s order finds that these bribes were inaccurately recorded in World Acceptance Corporation’s books and records as legitimate business expenses. The SEC’s order further finds that World Acceptance Corporation lacked internal accounting controls sufficient to detect or prevent the payments of such bribes and that management lacked the appropriate tone at the top regarding internal audit and compliance, thereby undermining the effectiveness of those functions.

“This long-running bribe scheme did not happen in a vacuum. Through a lack of adequate internal accounting controls and a culture that undermined its internal audit and compliance functions, World Acceptance Corporation created the perfect environment for illicit activity to occur for nearly a decade,” said Charles E. Cain, Chief of the SEC Enforcement Division’s FCPA Unit.

Without admitting or denying the SEC’s findings, World Acceptance Corporation consented to the entry of an order requiring that the company cease and desist from violating the anti-bribery, books and records, and internal controls provisions of the FCPA, and pay $17.826 million in disgorgement, $1.9 million in prejudgment interest, and a $2 million penalty.

The SEC’s investigation was conducted by Jennifer T. Calabrese of the FCPA Unit and supervised by Ansu N. Banerjee. The SEC appreciates the assistance of the U.S. Department of Justice Criminal Division’s Fraud Section, the U.S. Attorney’s Office for the Southern District of New York, and the Federal Bureau of Investigation.

###

UNITED STATES OF AMERICA
Before the
SECURITIES AND EXCHANGE COMMISSION
SECURITIES EXCHANGE ACT OF 1934
Release No. 89489 / August 6, 2020
ACCOUNTING AND AUDITING ENFORCEMENT
Release No. 4158 / August 6, 2020
ADMINISTRATIVE PROCEEDING
File No. 3-19905
In the Matter of
World Acceptance
Corporation,
Respondent.
ORDER INSTITUTING CEASE-ANDDESIST PROCEEDINGS PURSUANT TO
SECTION 21C OF THE SECURITIES
EXCHANGE ACT OF 1934, MAKING
FINDINGS, AND IMPOSING A CEASEAND-DESIST ORDER
I.
The Securities and Exchange Commission (“Commission”) deems it appropriate that ceaseand-desist proceedings be, and hereby are, instituted pursuant to Section 21C of the Securities
Exchange Act of 1934 (“Exchange Act”), against World Acceptance Corporation (“WAC” or
“Respondent”).
II.
In anticipation of the institution of these proceedings, Respondent has submitted an Offer
of Settlement (the “Offer”) which the Commission has determined to accept. Solely for the
purpose of these proceedings and any other proceedings brought by or on behalf of the
Commission, or to which the Commission is a party, and without admitting or denying the findings
herein, except as to the Commission’s jurisdiction over it and the subject matter of these
proceedings, which are admitted, Respondent consents to the entry of this Order Instituting Ceaseand-Desist Proceedings Pursuant to Section 21C of the Securities Exchange Act of 1934, Making
Findings, and Imposing a Cease-and-Desist Order (“Order”), as set forth below.
2
III.
On the basis of this Order and Respondent’s Offer, the Commission finds1
that:
Summary
1. This matter concerns violations of the anti-bribery, books and records, and internal
accounting controls provisions of the Foreign Corrupt Practices Act (“FCPA”) by World
Acceptance Corporation, a consumer loan company headquartered in Greenville, South Carolina.
The bribery scheme took place at WAC’s former wholly-owned subsidiary in Mexico, WAC de
Mexico, S.A. de C.V. (“WAC Mexico”), which paid approximately $4.1 million USD in bribes,
directly or through intermediaries, to Mexican government officials and union officials, from at
least December 2010 through June 2017 to obtain and retain business.
2. WAC failed to make and keep accurate books and records and failed to devise and
maintain a sufficient system of internal accounting controls necessary to detect and prevent these
bribe payments. The bribe payments were inaccurately recorded as legitimate “commission”
expenses in WAC’s books and records. WAC failed to implement sufficient internal accounting
controls over vendor management and accounts payable at WAC Mexico, failed to provide
reasonable assurances that WAC Mexico had implemented an FCPA policy and was adhering to it,
failed to provide FCPA training at WAC and WAC Mexico, and lacked sufficient entity level
controls over WAC Mexico. In addition, WAC management lacked the appropriate tone at the top
regarding internal audit and compliance, thereby undermining the effectiveness of those functions.
3. As a result of the bribery scheme, WAC was unjustly enriched by approximately
$18 million.
Respondent
4. World Acceptance Corporation is a consumer loan company, headquartered in
Greenville, South Carolina. WAC’s common stock is registered under Section 12(b) of the
Exchange Act, and trades on the NasdaqGS under ticker WRLD. WAC sold its wholly-owned
subsidiary, WAC Mexico, effective July 1, 2018. WAC currently does not have any foreign
subsidiaries, or conduct any business internationally.

1 The findings herein are made pursuant to Respondent’s Offer of Settlement and are not binding
on any other person or entity in this or any other proceeding.
3
Facts
The Bribery Scheme
5. WAC, through its former wholly-owned subsidiary, WAC Mexico, engaged in a
bribery scheme from at least December 2010 through June 2017, paying approximately $4.1
million USD ($64 million MXN) in bribes to obtain and retain business related to its Préstamos
Viva business line (“Viva”).
6. WAC Mexico had two lines of business, Préstamos Avance (“Avance”) and Viva.
Avance offered small loans directly to consumers, while Viva offered small loans to state and
federal government employees. Viva had less collection risk than Avance because government
employees had greater job security, and loan repayments were automatically deducted from the
government employee’s paycheck, collected by the unions, and sent to WAC Mexico. WAC
Mexico entered into at least 30 Viva contracts with government entities and/or worker unions
representing government employees, most of whom worked in healthcare and education. To
obtain Viva business and to ensure that loan repayments continued to be sent to WAC Mexico in a
timely manner, WAC Mexico paid monetary bribes to Mexican government officials and union
officials.
7. The Viva contracts were signed by government officials (e.g., the secretary of
health or education for a particular state government), and/or union officials (e.g. the general
secretary of a particular union). To enter into these contracts, WAC Mexico paid monetary bribes,
known internally as the “glove,” to Mexican government officials and union officials. During the
performance of these contracts, WAC Mexico also made ongoing payments, referred to as “royalty
payments,” “scholarship,” or “support,” to officials to ensure that loan repayments continued to be
sent to WAC Mexico in a timely manner. Regardless of who signed the contracts with WAC
Mexico, government officials were paid bribes to obtain or retain the ability to make loans to the
government employees under all of the contracts.
8. The $4.1 million in bribe payments to government officials and union officials were
paid in cash, a bank deposit into their bank account, or a bank deposit into the bank account of a
relative or friend of the official. WAC Mexico also hired third-party intermediaries to assist with
obtaining business, and make ongoing bribe payments to officials. These intermediaries kept a
small portion of the payments as their fee. One of WAC Mexico’s intermediaries flew to different
municipalities in Mexico with large bags of cash to pay officials. Employees at WAC Mexico
communicated with the intermediaries via email through servers located in the U.S.
9. Of the $4.1 million USD in payments, at least $1.5 million was paid to government
officials, $580,000 paid to union officials, and $480,000 paid to third party intermediaries who
used the funds to pay government officials and union officials. Due to the lack of appropriate
recordkeeping at WAC Mexico, it is unclear how the remaining $1.5 million in payments were
split between those made directly to government officials or union officials, or an intermediary
4
who used the funds to pay the officials.
WAC’s Inaccurate Books and Records and Insufficient Internal
Accounting Controls to Detect or Prevent Bribery
10. The bribe payments were inaccurately recorded as legitimate “commission”
expenses in WAC’s books and records. WAC and WAC Mexico lacked the internal accounting
controls sufficient to detect or prevent such payments. For example, WAC Mexico did not have a
vendor management system, did not maintain a master list of approved vendors, did not conduct
formal due diligence on new vendors, and did not have formal procedures or controls in place to
approve new vendors. These internal control failures over vendors allowed WAC Mexico to hire
third party intermediaries to pay bribes to government officials and union officials.
11. In addition, WAC Mexico did not have a sufficient accounts payable system.
Instead, manual checks were used for payment, which resulted in managers pre-signing blank
checks, making it impossible to enforce authorization limits in place over payments. Moreover,
WAC Mexico manually prepared a monthly spreadsheet that listed the checks paid that month, and
provided an expense category for each check. The payments made to government officials and
union officials were inaccurately categorized as “commission” expenses. WAC Mexico sent the
spreadsheet each month to WAC’s accounting department in Greenville, South Carolina without
invoices or backup support, and WAC failed to require such backup support. WAC then manually
coded each expense, including the “commission” expenses, for recording in WAC’s general ledger,
which was used to prepare WAC’s financial statements. Another example of the lack of controls
over accounts payable was the senior vice president of WAC Mexico approved check payments
with or without invoices, and starting in or about July 2014, WAC increased his authorization limit
to $1 million MXN (about $75,000 USD) to make payments related to any Viva contract.
12. WAC did not identify the high risk of bribery and corruption in Mexico and did not
implement sufficient internal accounting controls to address that risk. Although starting sometime
in 2013, WAC had an FCPA policy in its corporate compliance manual, there was no effective
formal monitoring, or internal controls in place, to ensure that WAC Mexico was adhering to that
policy. Moreover, neither WAC or WAC Mexico provided FCPA training to its personnel from at
least December 2010 through October 2017.
13. WAC also lacked entity level controls over WAC Mexico as a result of the lack of
oversight over personnel in Mexico.
14. Lastly, the tone at the top from WAC management did not support robust internal
audit and compliance functions, and undermined the effectiveness of those functions. For
example, in October 2015 the then-CEO of WAC terminated the vice president of internal audit
after he raised compliance concerns, including concerns about the lack of internal accounting
controls at WAC Mexico. The then-CEO then combined the internal audit function and the
compliance function into one department under one VP, had the VP report to her, and pressured
the VP to eliminate staffing and become more “bare-bones,” according to the VP. Prior to this
5
change, both vice presidents of internal audit and compliance had reported directly to the Board of
Directors and the Audit Committee. In November 2016, the then-CEO told the internal audit and
compliance VP that she would now report to the then-general counsel. Shortly thereafter, the VP
voiced concerns that the internal audit and compliance functions were not sound, and the thenCEO terminated her. The then-general counsel took over as the head of internal audit and
compliance, even though the general counsel had no prior audit or accounting experience. WAC’s
then-CEO also told the then-general counsel and an internal audit director that she did not care
whether WAC had a “world class [internal] audit function.”
15. After the bribery allegations came to light in March 2017, WAC’s management and
its independent audit firm reported in WAC’s FYE 2017 Form 10-K (ending March 31, 2017) that
WAC had material weaknesses in its Internal Control over Financial Reporting (“ICFR”) and, as a
result, WAC did not maintain effective ICFR. Specifically, WAC’s independent audit firm
identified the following material weaknesses: “control design gaps in [WAC’s] accounts payable
environment related to vendor management and payment processes in Mexico and in [WAC’s]
entity level control environment related to adherence to U.S. and foreign laws and regulations,
including the FCPA, and corporate governance of the Mexico operations.” WAC’s management
also identified the same material weaknesses.
Legal Standards and Violations
16. Under Section 21C(a) of the Exchange Act, the Commission may impose a ceaseand-desist order upon any person who is violating, has violated, or is about to violate any provision
of the Exchange Act or any rule or regulation thereunder, and upon any other person that is, was,
or would be a cause of the violation, due to an act or omission the person knew or should have
known would contribute to such violation.
17. As a result of the conduct described above regarding payments to government
officials, WAC violated Section 30A of the Exchange Act, which prohibits any issuer with a class
of securities registered pursuant to Section 12 of the Exchange Act, or any officer, director,
employee, or agent acting on behalf of such issuer, in order to obtain or retain business, from
corruptly giving or authorizing the giving of, anything of value to any foreign official for the
purposes of influencing the official or inducing the official to act in violation of his or her lawful
duties, or to secure any improper advantage, or to induce a foreign official to use his influence with
a foreign governmental instrumentality to influence any act or decision of such government or
instrumentality.
18. As a result of the conduct described above related to payments to government
officials and union officials, WAC violated Section 13(b)(2)(A) of the Exchange Act, which
requires every issuer with a class of securities registered pursuant to Exchange Act Section 12 to
make and keep books, records, and accounts, which, in reasonable detail, accurately and fairly
reflect the transactions and disposition of the assets of the issuer.
6
19. As a result of the conduct described above related to payments to government
officials and union officials, WAC violated Section 13(b)(2)(B) of the Exchange Act which
requires every issuer with a class of securities registered pursuant to Exchange Act Section 12 to
devise and maintain a system of internal accounting controls sufficient to provide reasonable
assurances that (i) transactions are executed in accordance with management’s general or specific
authorization; (ii) transactions are recorded as necessary (I) to permit preparation of financial
statements in conformity with generally accepted accounting principles or any other criteria
applicable to such statements, and (II) to maintain accountability for assets; (iii) access to assets is
permitted only in accordance with management’s general or specific authorization; and (iv) the
recorded accountability for assets is compared with the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences.
WAC’s Cooperation and Remedial Efforts
20. In determining to accept the Offer, the Commission considered remedial acts
promptly undertaken by WAC and cooperation afforded the Commission staff, including
facilitating witnesses traveling from Mexico to the U.S. for interviews. WAC’s remedial acts
included personnel changes made in late 2017 and early 2018, such as terminating the senior vice
president of WAC Mexico, and WAC’s CEO and general counsel (on terms previously
disclosed), and in mid-2018 WAC divested itself of WAC Mexico.
IV.
In view of the foregoing, the Commission deems it appropriate to impose the sanctions
agreed to in Respondent WAC’s Offer.
Accordingly, it is hereby ORDERED that:
A. Pursuant to Section 21C of the Exchange Act, WAC cease and desist from
committing or causing any violations and any future violations of Sections 30A, 13(b)(2)(A) and
13(b)(2)(B) of the Exchange Act.
B. WAC shall, within fourteen days of the entry of this Order, pay disgorgement of
$17,826,000, prejudgment interest of $1,900,000, and civil penalties of $2,000,000, for a total
payment of $21,726,000 to the Securities and Exchange Commission for transfer to the general
fund of the United States Treasury, subject to Section 21F(g)(3) of the Exchange Act. If timely
payment of disgorgement and prejudgment interest is not made, additional interest shall accrue
pursuant to SEC Rule of Practice 600. If timely payment of the civil penalty is not made,
additional interest shall accrue pursuant to 31 U.S.C. §3717.
Payment must be made in one of the following ways:
(1) Respondent may transmit payment electronically to the Commission, which
will provide detailed ACH transfer/Fedwire instructions upon request;
7
(2) Respondent may make direct payment from a bank account via Pay.gov
through the SEC website at http://www.sec.gov/about/offices/ofm.htm; or
(3) Respondent may pay by certified check, bank cashier’s check, or United
States postal money order, made payable to the Securities and Exchange
Commission and hand-delivered or mailed to:
Enterprise Services Center
Accounts Receivable Branch
HQ Bldg., Room 181, AMZ-341
6500 South MacArthur Boulevard
Oklahoma City, OK 73169
Payments by check or money order must be accompanied by a cover letter identifying
WAC as a Respondent in these proceedings, and the file number of these proceedings; a copy of
the cover letter and check or money order must be sent to Charles Cain, FCPA Unit Chief,
Division of Enforcement, Securities and Exchange Commission, 100 F Street, N.E., Washington,
DC 20549.
C. Amounts ordered to be paid as civil money penalties pursuant to this Order shall be
treated as penalties paid to the government for all purposes, including all tax purposes. To
preserve the deterrent effect of the civil penalty, Respondent agrees that in any Related Investor
Action, WAC shall not argue that it is entitled to, nor shall it benefit by, offset or reduction of any
award of compensatory damages by the amount of any part of Respondent’s payment of a civil
penalty in this action (“Penalty Offset”). If the court in any Related Investor Action grants such a
Penalty Offset, Respondent agrees that WAC shall, within 30 days after entry of a final order
granting the Penalty Offset, notify the Commission’s counsel in this action and pay the amount of
the Penalty Offset to the Securities and Exchange Commission. Such a payment shall not be
deemed an additional civil penalty and shall not be deemed to change the amount of the civil
penalty imposed in this proceeding. For purposes of this paragraph, a “Related Investor Action”
means a private damages action brought against Respondent by or on behalf of one or more
investors based on substantially the same facts as alleged in the Order instituted by the
Commission in this proceeding.
By the Commission.
Vanessa A. Countryman
Secretary

News: $WRLD World Acceptance Corporation Reports Fiscal 2019 Fourth Quarter and Fiscal Year Ended Results

World Acceptance Corporation (NASDAQ: WRLD) today reported financial results for its fourth fiscal quarter and fiscal year ended March 31, 2019. Three-month results Gross loans outstanding in the US increased to $1.13 billion as of March 31, 2019, a 12.3% increase ...

In case you are interested https://marketwirenews.com/news-releases/world-acceptance-corporation-reports-fiscal-2019-fourth-quarter-and-fiscal-year-ended-results-8151060.html

$WRLD recent news/filings

bearish 34.54

## source: finance.yahoo.com

Tue, 17 Nov 2015 13:15:00 GMT ~ What does the Technical Data Say - Research on United Insurance, MarineMax, World Acceptance and Xenoport

[Accesswire] - NEW YORK, NY / ACCESSWIRE / November 17, 2015 / Moments ago, Trader's Choice released new research updates concerning several important developing situations including the following equities: United Insurance ...

read full: http://finance.yahoo.com/news/does-technical-data-research-united-131500593.html
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Sat, 14 Nov 2015 18:04:25 GMT ~ WORLD ACCEPTANCE CORP Financials


read full: http://finance.yahoo.com/q/is?s=wrld
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Wed, 11 Nov 2015 04:25:00 GMT ~ Is This Company The Next Billion Dollar Fintech Unicorn

[Accesswire] - WINDSOR, ON / ACCESSWIRE / November 10, 2015 / The Silicon Valley Insider (or "SVI") would like to alert investors regarding several emerging investment opportunities that present unprecedented ...

read full: http://finance.yahoo.com/news/company-next-billion-dollar-fintech-042500129.html
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Tue, 10 Nov 2015 13:20:00 GMT ~ The Price Data Tells the Story - Research on World Acceptance, Xenoport, Stone Energy and Boot Barn Holdings

[Accesswire] - NEW YORK, NY / ACCESSWIRE / November 10, 2015 / Moments ago, Trader's Choice released new research updates concerning several important developing situations including the following equities: World Acceptance ...

read full: http://finance.yahoo.com/news/price-data-tells-story-research-132000317.html
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Fri, 06 Nov 2015 22:16:47 GMT ~ WORLD ACCEPTANCE CORP Files SEC form 10-Q, Quarterly Report


read full: http://biz.yahoo.com/e/151106/wrld10-q.html
*********************************************************

$WRLD charts

basic chart ## source: stockcharts.com



basic chart ## source: stockscores.com



big daily chart ## source: stockcharts.com



big weekly chart ## source: stockcharts.com



$WRLD company information

## source: otcmarkets.com

Link: http://www.otcmarkets.com/stock/WRLD/company-info
Ticker: $WRLD
OTC Market Place: Not Available
CIK code: 0000108385
Company name: World Acceptance Corp.
Incorporated In: SC, USA


$WRLD share structure

## source: otcmarkets.com

Market Value: $311,945,903 a/o Nov 16, 2015
Shares Outstanding: 8,918,740 a/o Nov 03, 2015
Float: Not Available
Authorized Shares: Not Available
Par Value: No Par Value

$WRLD extra dd links

Company name: World Acceptance Corp.
## STOCK DETAILS ##
After Hours Quote (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/after-hours
Option Chain (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/option-chain
Historical Prices (yahoo.com): http://finance.yahoo.com/q/hp?s=WRLD+Historical+Prices
Company Profile (yahoo.com): http://finance.yahoo.com/q/pr?s=WRLD+Profile
Industry (yahoo.com): http://finance.yahoo.com/q/in?s=WRLD+Industry

## COMPANY NEWS ##
Market Stream (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/stream
Latest news (otcmarkets.com): http://www.otcmarkets.com/stock/WRLD/news - http://finance.yahoo.com/q/h?s=WRLD+Headlines

## STOCK ANALYSIS ##
Analyst Research (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/analyst-research
Guru Analysis (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/guru-analysis
Stock Report (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/stock-report
Competitors (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/competitors
Stock Consultant (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/stock-consultant
Stock Comparison (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/stock-comparison
Investopedia (investopedia.com): http://www.investopedia.com/markets/stocks/WRLD/?wa=0
Research Reports (otcmarkets.com): http://www.otcmarkets.com/stock/WRLD/research
Basic Tech. Analysis (yahoo.com): http://finance.yahoo.com/q/ta?s=WRLD+Basic+Tech.+Analysis
Barchart (barchart.com): http://www.barchart.com/quotes/stocks/WRLD
DTCC (dtcc.com): http://search2.dtcc.com/?q=World+Acceptance+Corp.&x=10&y=8&sp_p=all&sp_f=ISO-8859-1
Spoke company information (spoke.com): http://www.spoke.com/search?utf8=%E2%9C%93&q=World+Acceptance+Corp.
Corporation WIKI (corporationwiki.com): http://www.corporationwiki.com/search/results?term=World+Acceptance+Corp.&x=0&y=0

## FUNDAMENTALS ##
Call Transcripts (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/call-transcripts
Annual Report (companyspotlight.com): http://www.companyspotlight.com/library/companies/keyword/WRLD
Income Statement (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/financials?query=income-statement
Revenue/EPS (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/revenue-eps
SEC Filings (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/sec-filings
Edgar filings (sec.gov): http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000108385&owner=exclude&count=40
Latest filings (otcmarkets.com): http://www.otcmarkets.com/stock/WRLD/filings
Latest financials (otcmarkets.com): http://www.otcmarkets.com/stock/WRLD/financials
Short Interest (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/short-interest
Dividend History (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/dividend-history
RegSho (regsho.com): http://www.regsho.com/tools/symbol_stats.php?sym=WRLD&search=search
OTC Short Report (otcshortreport.com): http://otcshortreport.com/index.php?index=WRLD
Short Sales (otcmarkets.com): http://www.otcmarkets.com/stock/WRLD/short-sales
Key Statistics (yahoo.com): http://finance.yahoo.com/q/ks?s=WRLD+Key+Statistics
Insider Roster (yahoo.com): http://finance.yahoo.com/q/ir?s=WRLD+Insider+Roster
Income Statement (yahoo.com): http://finance.yahoo.com/q/is?s=WRLD
Balance Sheet (yahoo.com): http://finance.yahoo.com/q/bs?s=WRLD
Cash Flow (yahoo.com): http://finance.yahoo.com/q/cf?s=WRLD+Cash+Flow&annual

## HOLDINGS ##
Major holdings (cnbc.com): http://data.cnbc.com/quotes/WRLD/tab/8.1
Insider transactions (yahoo.com): http://finance.yahoo.com/q/it?s=WRLD+Insider+Transactions
Insider transactions (secform4.com): http://www.secform4.com/insider-trading/WRLD.htm
Insider transactions (insidercrow.com): http://www.insidercow.com/history/company.jsp?company=WRLD
Ownership Summary (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/ownership-summary
Institutional Holdings (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/institutional-holdings
Insiders (SEC Form 4) (nasdaq.com): http://www.nasdaq.com/symbol/WRLD/insider-trades
Insider Disclosure (otcmarkets.com): http://www.otcmarkets.com/stock/WRLD/insider-transactions

## SOCIAL MEDIA AND OTHER VARIOUS SOURCES ##
PST (pennystocktweets.com): http://www.pennystocktweets.com/stocks/profile/WRLD
Market Watch (marketwatch.com): http://www.marketwatch.com/investing/stock/WRLD
Bloomberg (bloomberg.com): http://www.bloomberg.com/quote/WRLD:US
Morningstar (morningstar.com): http://quotes.morningstar.com/stock/s?t=WRLD
Bussinessweek (businessweek.com): http://investing.businessweek.com/research/stocks/snapshot/snapshot_article.asp?ticker=WRLD



$WRLD DD Notes ~ http://www.ddnotesmaker.com/WRLD

This looks good here. Think ill buy

I'm assuming the company is buying shares here.

Here we Go!

Yeah I have tomorrow's $75's, I might have to sell soon and breakeven, Stupid $75!

I agree. I'm just hoping it falls apart before expirations this month.

Raising their buyback in the middle of an investigation is not the smartest decision imo. This company is Shady!

Any selling pressure and this could collapse. Would love to see a downgrade.

More Buybacks may not be enough, lets see how they it reacts tomorrow, I think there is serious fire here!

World Acceptance : Shares of World Acceptance drop after federal investigation

03/19/2014 | 01:27pm US/Eastern

Subprime lender World Acceptance Corp. received a Civil Investigative Demand from the U.S. Consumer Financial Protection Bureau concerning possible violations of security laws, according to the Form 8-K the company filed with the U.S. Securities and Exchange Commission.
World Acceptance stock dropped 19% from opening to closing on Thursday but rose 3.6% Friday. The company's stock trades under the Nasdaq ticker symbol WRLD. Shares were trading at $75.78 per share Tuesday morning; that's $3.31, or 4.2%, below the previous close. According to the company, the investigative demand states that the "purpose of this investigation is to determine whether finance companies or other unnamed persons have been or are engaging in unlawful acts or practices in connection with the marketing, offering or extension of credit" in violation of the Consumer Financial Protection Act, the Truth in Lending Act or any other Federal consumer financial law. "The CID contains broad requests for production of documents, answers to interrogatories and written reports related to loans made by the company and numerous other aspects of the company's business," according to World Acceptance's filing. "The company has evaluated the CID and is in the process of providing information requested to the CFPB. The company believes that its marketing and lending practices are lawful."
The investigative demand will also "determine whether Bureau action to obtain legal or equitable relief would be in the public interest," according to the World Acceptance filing.
Pennsylvania-based Law Offices of Howard G. Smith announced Thursday it is conducting an investigation on behalf of World Acceptance shareholders. The investigation will look into securities acquired between Feb. 8, 2013 and March 12, 2014, according to the law firm's website.
Representatives from neither World Acceptance nor from the Law Offices of Howard G. Smith returned multiple telephone messages requesting comment.
"The Law Offices of Howard G. Smith believes that the company and certain of its executives violated federal law," the firm stated in the case summary.
"More specifically, the Law Offices of Howard G. Smith believes that the company misled investors to believe that it was conducting a legitimate business when, in fact, it was violating most every predatory lending practice known to man, including making loans to people who were already in default of previous loans, charging usurious interest rates and physically showing up at borrowers' homes and workplaces to intimidate them into paying. Moreover, the company sells a myriad of useless and valueless insurance products," according to the firm.
Stock has dropped a total of 22.5% in the last five days.
The company's board of directors approved a $50 million common stock repurchase plan in early February, which was in addition to a similar $25 million repurchase plan announced in November. Combining the two repurchase authorizations, World Acceptance has approximately $57.3 million — including pending repurchase orders subject to settlement — in aggregate remaining repurchase capacity.
World Acceptance Corp. is a consumer finance business operating in the U.S. and Mexico. The Greenville-based company offers short-term and medium-term loans, related credit insurance, and ancillary products and services.
Located near Philadelphia, the Law Offices of Howard G. Smith represents clients in federal and state courts for cases concerning securities fraud, takeover, derivative and Employee Retirement Income Security Act litigation brought against public companies, their officers, directors and advisors.
The U.S. Consumer Financial Protection Bureau is a federal entity created to protect consumers by carrying out federal consumer financial laws. The bureau was established by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.

(c) 2014 Legal Monitor Worldwide. All Rights Reserved. Provided by Syndigate.info, an Albawaba.com company

New share buy back announced. Not a good sign for the remainder of the week.

Since 1996, the Company has repurchased approximately 15.9 million shares for an aggregate purchase price of approximately $665.3 million. As of December 31, 2013 our debt outstanding was $583.3 million and our shareholders' equity was $328.6 million , resulting in a debt-to-equity ratio of 1.8:1. Our first priority is to ensure we have enough capital to fund loan growth. To the extent we have excess capital we intend to continue repurchasing stock, as authorized by our Board of Directors, which is consistent with our past practice. We will continue to monitor our debt-to-equity ratio and are committed to maintaining a debt level that will allow us to continue to execute our business objectives, while not putting undue stress on our balance sheet.

And why are they buying back so many shares?

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The Company's credit agreements contain certain restrictions on the payment of cash dividends on its capital stock. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources."
On November 27, 2013, the Board of Directors authorized the Company to repurchase up to $25.0 million of the Company’s common stock. This repurchase authorization follows, and is in addition to, a similar repurchase authorization of $50.0 million announced on August 29, 2013. After taking into account all shares repurchased through February 4, 2014 (including pending repurchase orders subject to settlement), the Company has $13.8 million in aggregate remaining repurchase capacity under all of the Company’s outstanding repurchase authorizations. The timing and actual number of shares repurchased will depend on a variety of factors, including the stock price, corporate and regulatory requirements and other market and economic conditions. Although the repurchase authorizations above have no stated expiration date, the Company’s stock repurchase program may be suspended or discontinued at any time. The following table provides information with respect to purchases made by the Company of shares of the Company’s common stock during the three months ended December 31, 2013 :

* On November 27, 2013, the Board of Directors authorized the Company to repurchase up to $25.0 million of the Company’s common stock. This repurchase authorization follows, and is in addition to, a similar repurchase authorization of $50.0 million announced on August 29, 2013.

I'm in some $75 puts from yesterday...

Read this...World's business hinges on convincing low-income borrowers to renew their loans over and over again, a practice that can radically increase the amount of interest they pay. The company also packages nearly useless insurance products with its loans in many states, allowing it to skirt state interest rate caps, our investigation found.

http://truth-out.org/news/item/22535-high-cost-lender-world-finance-target-of-federal-probe

Hopefully you shorted right? Looks good today.

$75 not holding, Lookout Below!

"The enforcement action will highly likely bankrupt the company" http://seekingalpha.com/article/2090843-the-beginning-of-the-end-of-world-acceptance-corporation?source=yahoo

Shorted at 83.85...I agree if loses 75, 60's will come fast.

In a few $75 puts! If she loses $75 looks like $65 would come fast...

Yep, it was fun while it lasted. Now time to short! :)

Yes I agree, maybe the end of WRLD!

Goodbye WRLD...Investigative journalism shows that the company is guilty of unlawful acts. Time to shorts.

http://www.propublica.org/article/installment-loans-world-finance

In a few July $80 puts...

WRLD Shorts are Circling here, I don't think this one lasts much longer before the bubble pops...

Gov't could easily shut this one down imo...

Whitney Tilson has a big short here...

http://www.valuewalk.com/2013/05/whitney-tilson-world-acceptance-scum/

World Acceptance Corporation (WRLD) offers short-term small loans, medium term larger loans, credit insurance products, tax services, financial software, and ancillary products and services to individuals in the United States and Mexico. WRLD’s average gross loan made in fiscal 2011 was $1,134 with an average maturity of 11 months. The company services sub-prime borrowers in particular and during fiscal 2011 loaned $2.6B making it one of the bigger companies of its type in the US.

Recent Performance

Over the last 10 years WRLD has grown EPS from $1.00 to $5.63 representing a rate of almost 19%. Revenue of the same time has grown just under 14%. The difference between the revenue growth rate and the EPS growth rate has come about due to the combination of increased margins and share repurchases. $53M was spent on share-repurchases during fiscal 2011.

Looking at its numbers over the past 10 years, importantly none of the company’s earnings growth, profitability, or margins suffered even slightly during the GFC. WRLD’s 10 performance has been not only impressive but remarkably consistent.

We like to see Free Cash Flow meet or exceed Net Income and for WRLD their total net income over the past 10 years has totaled $471M while total Free Cash Flow over that time has exceeded $1B. WRLD is a wonderful generator of cash which has allowed it to expand at a rapid rate (more on that below).

Quality Rating


Source: www.usastockvaluation.com

The company scores an admirable quality rating of 70/100. Its net debt to equity score is poor, though its balance sheet is still reasonably strong with total assets of around $800M (of which goodwill is negligible) and total liabilities of around $360M. The company also scores poorly in terms of return on retained earnings which is a function of its rapid expansion – opening new stores doesn’t bear much fruit, relatively speaking, for the first few years until revenue from the initial loans issued is materialized.

Intrinsic Value


Source: www.usastockvaluation.com

Regulatory uncertainty surrounds the company and the industry it is in. This regulatory uncertainty forces downward pressure on the share-price, creating possible buying opportunities. Companies like WRLD provide an important service to those American people who do not have access to credit through traditional channels, so it is unlikely the regulatory uncertainty will materialize negatively on WRLD’s business. We expect that the newly created “Consumer Financial Protection Bureau” will focus on preventing the sub-prime real-estate bubble from ever happening again, and look at ways to minimize unethical exploitation of the government student loan system. But concerned investors who have trouble sleeping at night during some uncertainty may want to wait for some clarity from policymakers prior to an investment in a company like WRLD.



The wonderful performance of WRLD over the past 10 years is clearly illustrated in the above graph. With huge scope for further growth (see below), this trend is likely to continue for many years. Now appears to be a reasonably good time to buy.

Investment Grade Table


Source: www.usastockvaluation.com

WRLD ranks only at number 120 on the USAStockValuation.com Investment Grade Table due to the relatively low margin of safety on offer. Investors need to consider also that Intrinsic Value is expected to rise significantly in the coming years.

Drivers of Future Growth

WRLD has been opening new offices at a hefty rate over the past 5 years. Fiscal 2011 saw 77 new branches open, an increase of 7.8%. The below illustrates the rapid rate of growth for the company in terms of establishment of new offices:


Source: www.worldacceptance.com

Fiscal 2011 also saw the company enter Wisconsin for the first time, bringing the number of US states in which WRLD has a presence to 12. With so many states not yet entered, huge scope for growth still exists for the company. WRLD is also growing in Mexico, proving that their business model is successful outside of the US, which bodes it well should it wish to expand into other countries.

WRLD’s goal for 2012 is to open a further 63 offices in the US and a further 10 in Mexico. It is uncertain how many offices the company will eventually have in the US, but with a business model that produces great profits as well as profitability, there is no reason why the company won’t continue to expand geographically into many more states around the country.

Conclusion

Management clearly treat shareholders as owners of the company through their language in annual reports and other official documentation. And they have created a very successful business model which allows for significant geographic expansion. The future looks nothing but bright for the company even considering the lingering regulatory uncertainty (which we see as a very low risk for WRLD). Investors may see a good opportunity at current prices to buy a part ownership in a fast growing business.