PR - Consumer Portfolio Announces Completion of Sale of LLCP Shares

 

Consumer Portfolio Services, Inc. (Nasdaq: CPSS) yesterday announced that Levine Leichtman Capital Partners II, L.P. (LLCP) has completed its sale in the open market of the remaining common shares of CPS it previously held. At one point LLCP owned over 4.5 million shares, but that stake now has been reduced to zero.

Charles E. Bradley, Jr., President and Chief Executive Officer, said, “We are pleased that LLCP has been able to complete the sale of its shares, most of which LLCP had held since 1999. We have valued LLCP’s support throughout our association. We believe the completed sale is a positive development for the Company because LLCP’s stock position has been an added burden on our stock price in a difficult capital markets environment. With the sale complete, we anticipate the market will recognize our solid operating and financial performance and attractive valuation.”