The Missouri Supreme Court has declined to hear the Missouri Attorney General's appeal of a decision to uphold a trial court’s dismissal of the attorney general’s lawsuit against Portfolio Recovery Associates.
The earlier decision by Missouri's Court of Appeals involved 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 a 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, previously was dismissed by the Circuit Court of the City of St. Louis in June 2010.
PRA, a publicly owned company, reported across-the-board gains in cash collections, earnings and revenues for the third quarter ended Sept. 30, the most recent reporting period (
Cash collections increased to a record $182.2 million in the quarter, up 33%. Call center and other collections rose 24%, external legal collections increased 35% and purchased bankruptcy collections gained 40%.
PRA has been named to the Forbes 100 Best Small Companies in America annual rankings list for five consecutive years (2007 - 2011) (
