MOVADO SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess...
21 March 2015 - 1:00PM
Business Wire
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former
Attorney General of Louisiana, Charles C. Foti, Jr., remind
investors that they have until April 6, 2015 to file lead
plaintiff applications in a securities class action lawsuit against
Movado Group, Inc. (NYSE: MOV) if they purchased the Company’s
securities between March 26, 2014 and November 13, 2014, inclusive
(the “Class Period”). This action is pending in the United States
District Court for the District of New Jersey.
What You May Do
If you purchased shares of Movado and would like to discuss your
legal rights and how this case might affect you and your right to
recover for your economic loss, you may, without obligation or cost
to you, call toll-free at 1-877-515-1850 or email KSF Managing
Partner Lewis Kahn (lewis.kahn@ksfcounsel.com). If you wish to serve
as a lead plaintiff in this class action, you must petition the
Court by April 6, 2015.
About the Lawsuit
Movado and certain of its executives are charged with failing to
disclose material information during the Class Period, violating
federal securities laws.
These false statements and omissions included, in part, that:
(i) attractive business prospects and strong growth was expected
for the Company’s flagship Movado brand as well as its portfolio of
licenses brands; and (ii) the Company’s initiative to boost the
Movado brand was to cannibalize one of the Company’s other brand’s
shelf space at various retailers.
On November 14, 2014, Movado announced disappointing third
quarter financial results and stated that it would be lowering its
fiscal year 2015 guidance. On this news, the price of Movado’s
stock plummeted by almost 32%.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former
Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers
with significant experience litigating complex securities class
actions nationwide on behalf of both institutional and individual
shareholders, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLCLewis Kahn, Managing Partner,
877-515-1850lewis.kahn@ksfcounsel.com
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