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 Tailored Brands, Inc. (“Tailored Brands ” or the “Company”) ( f/k/a The Men’s Wearhouse, Inc.) (NYSE: TLRD) concerning whether the Company misled investors regarding the success of the acquisition by The Men’s Wearhouse, Inc. of Jos. A. Bank Clothiers, Inc. Tailored Brands investors have until May 31, 2016 to file a lead plaintiff motion.
Investors who suffered losses on their Tailored Brands 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 or around June 18, 2014, The Men’s Wearhouse, Inc. announced the closing of its acquisition of Jos. A. Bank Clothiers, Inc. for consideration of $65 per share in cash. The combined entity, one of the largest suit and apparel retailers in the United States, was later renamed Tailored Brands, Inc. President and CEO of Tailored Brands, Doug Ewert, called the merged entity "a truly great Company for all our stakeholders." However, the Company allegedly faced considerable resistance to year over year revenue growth, in part fueled by promotional practices that hurt revenues and profitability.
On November 5, 2015, Tailored Brands disclosed poor preliminary results for the third quarter of 2015. Citing sales weakness at Jos. A Bank stores, Tailored Brands informed investors that fourth quarter sales were now expected to be down 20-25% from the same period in previous year. On this news, shares of Tailored Brands fell 46%, to close at just $22.70 on November 6, 2015.
Then on December 9, 2015, the Company disclosed third quarter earnings that were worse than anticipated, and noted that fourth quarter sales at Jos. A Bank were on pace to be 35% lower than the prior quarter. On this news, shares of Tailored Brands stock fell nearly 18%, to close at $15.27 on December 10, 2015.
If you purchased shares of Tailored Brands during the Class Period you may move the Court no later than May 31, 2016 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class 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. If you wish to learn more about this 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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