Schall, Brown & Schwartz LLP launched an investigation into Enova International, Inc. for potential securities law violations. The probe focuses on whether the company issued false or misleading statements regarding its proposed acquisition of Grasshopper Bancorp, Inc.
Enova withdrew its regulatory applications for the acquisition on September 14, 2026. This reversal followed a July 2026 earnings call where the company's CEO expressed confidence in the deal closing.
The sudden withdrawal of the applications triggered a sharp market reaction. Enova's shares plummeted 23.4% on the day of the announcement.