NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Movado Group, Inc. (“Movado” or the “Company”) (NYSE: MOV) securities between March 26, 2014 and November 13, 2014.
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The complaint alleges that during the Class Period defendants issued materially false and misleading statements regarding: (a) the purportedly attractive business prospects and strong growth expected for the Company’s flagship Movado brand as well as its portfolio of licensed brands; and (b) the Company’s initiative to boost the Movado brand by cannibalizing one of the Company’s other brand’s shelf space at various retailers.
On November 14, 2014, Movado issued a press release preliminarily announcing disappointing third quarter financial results and that the Company would be lowering its fiscal year 2015 guidance.
If you suffered a loss in Movado you have until April 6, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/movado-group-mov.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.