Izard Nobel LLP Announces Class Action Lawsuit Against Aeropostale, Inc.
(firmenpresse) - WEST HARTFORD, CT -- (Marketwire) -- 10/11/11 -- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Aeropostale, Inc. ("Aeropostale" or the "Company") (NYSE: ARO) between February 3, 2011 and August 3, 2011, inclusive (the "Class Period").
The complaint charges that Aeropostale and certain of its officers and directors violated federal securities laws by issuing materially false statements regarding the Company's business and prospects. Specifically, defendants failed to disclose the following adverse facts: (i) that Aeropostale was experiencing declining demand for its women's fashion division, which makes up 70% of the Company's sales; (ii) that Aeropostale was enduring pressure on its profit margins as a result of increasing inventory and higher discounts on its clothing; and (iii) that, as a result, defendants lacked a reasonable basis for their positive statements about the Company.
On August 4, 2011, Aeropostale provided a business update for the second quarter of 2011 reporting net sales of $468.2 million, a decrease of 5% from the second quarter of 2010, and expected net earnings to be in the range of $0.02 to $0.03 per share -- well below the Company's guidance of $0.11 to $0.16 per share. On this news, Aeropostale stock fell $3.99, or 24%, to close at $12.53 per share.
If you are a member of the class, you may, no later than December 12, 2011, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: , or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: . For more information about class action cases in general, please visit our website: .
CONTACT:
Nancy A. Kulesa or Wayne Boulton
(800)797-5499
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Datum: 11.10.2011 - 22:40 Uhr
Sprache: Deutsch
News-ID 75012
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