BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Vince Holdings Corp. (“Vince Holdings Corp.” or the “Company”) (NYSE: VNCE) securities between December 8, 2016 and April 27, 2017, inclusive (the “Class Period”). Vince Holdings Corp. investors have until July 5, 2017 to file a lead plaintiff motion in this putative class action.
Investors suffering losses on their Vince Holdings Corp. investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On April 28, 2017, the Company announced that results for the fourth quarter came in below its expectations, and attributed the shortfall to “challenges related to our systems conversion, which led to delayed shipments of Spring product and off-price shipments, as well as lower than expected performance in our pre-Spring collection.” On this news, the Company’s share price fell by more than 25% to close at just $1.00 per share on April 28, 2017, thereby injuring investors.
According to the lawsuit filed in this class action, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) during the transition from legacy Kellwood systems, Vince experienced issues related to integrating its new enterprise resource planning systems; and (2) as a result, defendants’ statements about Vince’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
If you purchased shares of Vince Holdings Corp. during the Class Period you may move the Court no later than July 5, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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