DALLAS--(BUSINESS WIRE)--Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor LLP announce that a federal class action lawsuit has been filed in the United States District Court for the Southern District of New Jersey against Movado Group, Inc. (“Movado”) (NYSE: MOV) and several officers and directors for acts taken during the period of March 26, 2014 to November 13, 2014 (the “Class Period”).
Based upon the allegations in the class action, the firms are investigating additional legal claims against the officers and Board of Directors of Movado. If you are an affected Movado shareholder and want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, or via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
According to the complaint, the defendants are alleged to have violated certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges, among other things, that defendants issued materially false and misleading statements touting the purportedly attractive business prospects and strong growth expected. As a result of defendants’ alleged materially false and misleading statements and omissions, Movado common stock traded at artificially inflated prices during the Class Period and allowing the Chairman and CEO to sell over $8.6 million worth of his Movado shares at the artificially inflated prices. Movado issued a press release on November 14, 2014 announcing disappointing third quarter financial results and cutting its financial outlook for its 2015 fiscal year. Movado stock dropped significantly immediately following this announcement.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.