Upbound brand Acima sued by New York Attorney General

New York Attorney General Letitia James sued Acima, an Upbound Group brand, “for deceiving more than 100,000 New York consumers.” The lawsuit alleges that Acima violated New York’s rent-to-own law by “leasing” goods that could not be returned, charging more than the allowable amount on goods, and misleading consumers about the cost of financing provided by Acima. “These dishonest actions resulted in New York consumers enrolling in contracts that more than doubled the price of items they were trying to buy. The lawsuit seeks to end Acima’s deceptive business practices, secure civil penalties, and collect restitution for impacted consumers,” James said in a statement. Shares of Upbound Group are down 1% to $31.19 following the lawsuit.