Lend them some luck? Delayed report, suit smack Credit Acceptance. (Credit Acceptance Corp)

From: Crain's Detroit Business | Date: February 2, 1998| Author: Roush, Matt | Copyright information

Delayed report, suit smack Credit Acceptance

The tough times continue for Credit Acceptance Corp. (Nasdaq: CACC).

The South field specialty auto-finance company said last Wednesday that its 1997 earnings statement would be delayed because its auditors, Arthur Andersen L.L.P., haven't finished with the books.

Then Thursday, the company was hit with a shareholder class-action suit, alleging the company hid unpleasant financial reality.

Analysts said ...

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