LOS ANGELES--()--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Middle District of Florida on behalf of a class (the “Class”) consisting of all purchasers of the common stock of Body Central Corporation (“Body Central” or the “Company”) (NASDAQ:BODY) between November 10, 2011 and June 18, 2012 (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934.
“revised sales and earnings guidance for its second quarter and full year 2012.”
Body Central operates as a specialty retailer of young women’s apparel and accessories in the south, mid-Atlantic and Midwest United States. The Company operates specialty apparel stores under the Body Central and Body Shop banners. On June 18, 2012 the Company announced “revised sales and earnings guidance for its second quarter and full year 2012.” According to a Company-issued press release, the revision was a result of “recent sales trends,” which the Company expects “will continue into the third quarter with some impact to gross margin.”
The Complaint alleges that the Company and certain of its executive officers misrepresented and/or failed to disclose material adverse facts concerning the Company’s financial performance and prospects, including that: (1) the Company's “merchandise miss” was not an isolated event, it would take at least several quarters to remedy and would have a material negative impact on the Company's financial results; (2) the Company's stores were experiencing increasingly poor performance and financial results; (3) defendants issued materially false and misleading statements regarding the Company's operations and its business and financial results and outlook; and (4) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company or its revenue outlook.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you are a member of the above-described Class, you have certain rights, and have until October 29, 2012 to move for lead plaintiff status. To be a member of the class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent class member. To learn more, or if you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, by telephone at (310) 201-9150, Toll Free at (888) 773-9224, by e-mail to firstname.lastname@example.org or visit our website at http://www.glancylaw.com.
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