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Justices hear arguments regarding alleged state employee wage payment shortfalls

CHARLESTON – The state Supreme Court will decide whether to remand a case involving state employees who claim they were shortchanged when the state switched from twice monthly to biweekly pay.
The petition was heard March 16. The petitioners – Lisa Wilkinson, Heather Morris, Kathryn A. Bradley, Pamela Stumpf and Lula V. Dickerson – are five state employees. But the case could affect up to 40,000 public employees. The respondents are Gov. Jim Justice, Auditor John B. McCuskey, former Treasurer John Perdue, Secretary of State Mac Warner, Attorney General Patrick Morrisey and state Supreme Court Chief Justice Evan Jenkins.
During the March 16 oral arguments, attorney Mike Ranson presented the case for the petitioners. He argued that the employee simply were not fully paid in the 2017 calendar year because of the state’s switch from twice monthly pay to biweekly. Bryan R. Cokeley presented the case for the respondents, who say the petitioners have identified no conduct that violates a clearly established law and, therefore, the state entities are entitled to qualified immunity.

Kanawha-county , West-virginia , United-states , Virginia , State-of-west-virginia , Sacco-mccoid , G-patrick-jacobs , Annaf-ballard , Bailey-wyant , Mac-warner , Charleston-justice , Robert-mccoid

Supreme Court will hear state employees' pay case in March

The petition is scheduled to be heard by the justices on March 16.
The petitioners – Lisa Wilkinson, Heather Morris, Kathryn A. Bradley, Pamela Stumpf and Lula V. Dickerson – are five state employees. But the case could affect up to 40,000 public employees. The respondents are Gov. Jim Justice, Auditor John B. McCuskey, former Treasurer John Perdue, Secretary of State Mac Warner, Attorney General Patrick Morrisey and state Supreme Court Chief Justice Evan Jenkins.
“We think it’s responsible and good that the Supreme Court is going to hear this important case affecting the paychecks of thousands, maybe tens of thousands, of state employees, including their own, as we believe the lower court erred in throwing the case out,” Teresa Toriseva, one of the attorneys representing the employees, told

West-virginia , United-states , Kanawha-county , State-of-west-virginia , Sacco-mccoid , G-patrick-jacobs , Annaf-ballard , Bailey-wyant , Mac-warner , Charleston-justice , Robert-mccoid , Steptoe-johnson

Rent-A-Center Enters Into Definitive Agreement to Acquire Acima

Furniture World News
By Nic Ledoux on
12/22/2020
Rent-A-Center, Inc. has announced that it has entered into a definitive agreement to acquire Acima Holdings LLC, a leading provider of virtual lease-to-own solutions. Total consideration consists of $1.273 billion in cash and approximately 10.8 million shares of Rent-A-Center common stock currently valued at $377 million. The transaction is expected to close in the first half of 2021 subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act.
Acima is a fast growing, profitable LTO fintech company with a national presence in retail partner stores and e-commerce platforms, and a broad range of product verticals. Founded in 2013 in Salt Lake City, Utah, Acima has grown annual revenues from $97 million in 2016 to an expected $1.25 billion in 2020. Acima will continue to operate out of Salt Lake City and will incorporate the complementary Preferred Dynamix platform to create a frictionless LTO experience for consumers and retail partners. Upon the closing of the transaction, the current Acima management team will report to Preferred Dynamix Executive Vice President Jason Hogg, and the combined business will be reported in the Preferred Lease segment.

United-states , Salt-lake-city , Utah , Rosen-katz , Mitch-fadel , Jason-hogg , Aaron-allred , Lipton , Jp-morgan-securities , Credit-suisse , Securities-united-states-inc , Sullivan-cromwell

Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth

Press release content from Business Wire. The AP news staff was not involved in its creation.
Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth
December 21, 2020 GMT
PLANO, Texas--(BUSINESS WIRE)--Dec 20, 2020--
Rent-A-Center, Inc. (the “Company” or “Rent-A-Center”) (NASDAQ: RCII) today announced that it has entered into a definitive agreement to acquire Acima Holdings LLC, a leading provider of virtual lease-to-own solutions. Total consideration consists of $1.273 billion in cash and approximately 10.8 million shares of Rent-A-Center common stock currently valued at $377 million. The transaction is expected to close in the first half of 2021 subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Further details regarding the Acima acquisition will be discussed in a conference call with investors tomorrow at 8:30am ET and more information is available at investor.rentacenter.com.

Texas , United-states , Mexico , Puerto-rico , Salt-lake-city , Utah , Canada , Rosen-katz , Mitch-fadel , Brian-regan , Jason-hogg , Aaron-allred

Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth – Consumer Electronics Net

3 months ago
Acima operates in over 15,000 active retail partner locations and e-commerce platforms with approximately $1.25 billion in revenue and $225 million in adjusted EBITDA expected for 2020
$1.65 billion cash and stock transaction that expands Rent-A-Center’s position as a premier fintech platform in both the traditional and virtual LTO segments
Combination has strong synergy potential and results in estimated pro forma 2020E revenue of approximately $4.1 billion and $540 million in adjusted EBITDA, improving long-term outlook for revenue, profitability and cash flow generation
1
PLANO, Texas–(BUSINESS WIRE)–Rent-A-Center, Inc. (the “Company” or “Rent-A-Center”) (NASDAQ: RCII) today announced that it has entered into a definitive agreement to acquire Acima Holdings LLC, a leading provider of virtual lease-to-own solutions. Total consideration consists of $1.273 billion in cash and approximately 10.8 million shares of Rent-A-Center common stock currently valued at $377 million. The transaction is expected to close in the first half of 2021 subject to customary closing conditions, including clearance under the Hart-Scott-Rodino Antitrust Improvements Act. Further details regarding the Acima acquisition will be discussed in a conference call with investors tomorrow at 8:30am ET and more information is available at investor.rentacenter.com.

Texas , United-states , Mexico , Puerto-rico , Salt-lake-city , Utah , Canada , Rosen-katz , Mitch-fadel , Brian-regan , Jason-hogg , Aaron-allred

Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth – IT Business Net

Rent-A-Center Enters Into Definitive Agreement to Acquire Acima to Create Leading Virtual Lease-to-Own Platform, Accelerate Long-Term Growth – IT Business Net
itbusinessnet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from itbusinessnet.com Daily Mail and Mail on Sunday newspapers.

Texas , United-states , Mexico , Puerto-rico , Salt-lake-city , Utah , Canada , Rosen-katz , Mitch-fadel , Brian-regan , Jason-hogg , Aaron-allred

Rent-A-Center Rises on Deal to Buy Online Peer Acima for $1.6B

Rent-A-Center Rises on Deal to Buy Online Peer Acima for $1.6B
Rent-A-Center stock traded higher Monday after the company said it agreed to buy online lease-to-own provider Acima Holdings for $1.6 billion.
Author:
Rent-A-Center (
RCII) - Get Report shares were higher on Monday a day after the company said it agreed to buy online lease-to-own provider Acima Holdings in a deal valued at more than $1.6 billion in cash and stock.
Shares of the Plano, Texas, company at last check rose 11% to $39.11.
The terms call for Rent-A-Center to pay $1.27 billion cash and 10.8 million common shares currently valued at $377 million.
The deal is expected to close in the first half, subject to conditions including antitrust clearance.

Mexico , Puerto-rico , Salt-lake-city , Utah , United-states , Texas , Jason-hogg , Mitch-fadel , Aaron-allred , Acima-allred , Credit-suisse , Acima-holdings