NEW YORK--(BUSINESS WIRE)--Levi & Korsinsky, LLP announces that it has commenced an investigation of Tailored Brands, Inc., formerly known as The Men’s Wearhouse, Inc., (“Tailored Brands” or “the Company”) (NYSE:TLRD) concerning possible violations of federal securities laws by the Company and/or certain of its officers and directors. To obtain additional information about the investigation, go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
On June 18, 2014, Tailored Brands (then known as The Men’s Wearhouse) announced the completed acquisition of Jos. A. Bank Clothiers, Inc. for $65.00 per share. At the time, CEO and President Doug Ewert referred to the newly-combined entity as a “truly great company for all our stakeholders.”
Then in November of 2015, the Company announced preliminary third quarter results and an updated fiscal year 2015 outlook. Investors were told there were “significant comparable sales weakness at Jos. A. Bank. During the third quarter comparable sales decreased 14.6% at Jos. A. Bank, far below the Company’s earlier expectations.” The Company also acknowledged that fourth quarter comparable sales at Jos. A. Bank were expected to be down between 20 to 25% from the prior year’s fourth quarter. On December 9, 2015, the Company released third quarter earnings that were worse than previously predicted just weeks earlier. Shares of Tailored Brands are down from a close of $55.86 per share on June 18, 2014, to a recent close of just $15.11 per share.
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