NEW YORK, Sept. 20, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against L Brands, Inc. (“L Brands” or the “Company”) (LB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired L Brands securities between May 31, 2018 through November 19, 2018, both dates inclusive. Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/lb.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Victoria’s Secret and PINK businesses were having a material adverse effect on L Brands’ cash flow, liquidity and debt levels; (2) Defendants lacked a reasonable basis for their positive statements about the ability of the Company to sustain its dividend; (3) the MD&A disclosures in filings L Brands made with the SEC were materially false and misleading; (4) the risk factor disclosures in filings L Brands made with the SEC were materially false and misleading; (5) the representations about L Brands’ disclosure controls in filings the Company made with the SEC were materially false and misleading; (6) the certifications issued by Defendants Wexner and Burgdoerfer on L Brands disclosure controls were materially false and misleading; (7) as a result, defendants’ statements about L Brands’ business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/lb or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in L Brands you have until September 23, 2019 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com