INVESTOR ALERT: Lundin Law PC Announces a Securities Class Action Lawsuit against Vince Holding Corp. and Reminds Investors with Losses to Contact the Firm
LOS ANGELES, CA / ACCESSWIRE / June 6, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Vince Holding Corp. ("Vince" or the "Company") (VNCE) for 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.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at brian@lundinlawpc.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 reached the public, the stock price of Vince dropped materially, which harmed investors according to the Complaint.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding the rights of shareholders.
This press release may be considered Attorney Advertising in certain jurisdictions under the applicable law and ethics rules.
Contact:
Lundin Law PC
Brian Lundin, Esq.
Telephone: 888-713-1033
Facsimile: 888-713-1125
brian@lundinlawpc.com
http://lundinlawpc.com/
SOURCE: Lundin Law PC
