Missouri Supreme Court Declines to Hear Attorney General's Appeal of Lawsuit Against Portfolio Recovery Associates
Portfolio Recovery Associates, Inc. (NASDAQ: PRAA) announced that on Tuesday, Dec. 6, 2011, the Missouri Supreme Court declined to hear the Missouri Attorney General's appeal of the earlier decision of the Missouri Court of Appeals in the case of State of Missouri v. Portfolio Recovery Associates, Inc. et al.
In April, the Court of Appeals upheld the decision of a lower court to dismiss the lawsuit by the Missouri Attorney General against PRA's subsidiary, Portfolio Recovery Associates, LLC. The case, which alleged that PRA and Portfolio Recovery Associates, LLC violated Missouri's Merchandising Practices Act by engaging in unfair debt collection practices, was previously dismissed by the Circuit Court of the City of St. Louis in June 2010.
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