NEW ORLEANS--(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 (email@example.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.