LOS ANGELES, CA / ACCESSWIRE / June 16, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Vince Holding Corp. ("Vince" or the "Company") (VNCE) regarding possible violations of federal securities laws between December 8, 2016 and April 27, 2017, inclusive (the "Class Period"). Investors who purchased or otherwise acquired shares during the Class Period should contact the firm prior to the July 5, 2017 lead plaintiff motion deadline.
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You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at email@example.com.
No class has been certified in the above action yet. Until a class is certified, you are not considered represented by an attorney. You may choose to do nothing and be an absent class member as well.
According to the Complaint, throughout the Class Period, Vince made false and/or misleading statements and/or failed to disclose that during the transition from legacy Kellwood systems, the Company experienced issues related to integrating its new enterprise resource planning systems; and thus, Vince's statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On April 28, 2017, the Company disclosed that "[r]esults for the fourth quarter came in below our expectations, due primarily to challenges related to our systems conversion." That same day, the Company's CEO Brendan Hoffman stated during an earnings call that "a lot of the constraint was due to our systems in last three-months not getting a little bit more product out there." On that same call, CFO David Stefko stated that "our fourth quarter topline sales results did not meet our expectations, primarily due to the challenges we encountered as a result of our complex systems conversion." When this news was released, the stock price of Vince fell materially, which harmed investors according to the Complaint.
Lundin Law PC was created by Brian Lundin, a securities litigator based in Los Angeles devoted to upholding the rights of shareholders.
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SOURCE: Lundin Law PC