LOS ANGELES--(BUSINESS WIRE)--Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a securities class action lawsuit against Vince Holding Corp. (“Vince” or the “Company”) (NYSE: VNCE). Investors who purchased the Company’s shares between December 8, 2016 and April 27, 2017 inclusive (the “Class Period”), are encouraged to contact the firm in advance of the July 5, 2017 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm’s website at http://www.goldberglawpc.com/, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, Vince made false and/or misleading statements and/or failed to disclose that during the transition from legacy Kellwood systems, the Company experienced issues related to integrating its new enterprise resource planning systems; and thus, Vince’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On December 8, 2016, the Company disclosed that it was transitioning its Kellwood systems and services. On April 14, 2017, Vince disclosed that the filing of its Form 10-K for fiscal year 2016 with the U.S. Securities & Exchange Commission will be delayed due to “the transition from Kellwood, the Company’s former parent company, and the integration of the Company’s new ERP System with its internal business processes and third-party systems.” On April 28, 2017, Vince disclosed that “[r]esults for the fourth quarter came in below our expectations, due primarily to challenges related to our systems conversion.” On the same day, the Company’s CEO Brendan Hoffman stated during an earnings call that “a lot of the constraint was due to our systems in last three-months not getting a little bit more product out there.” On that same call, CFO David Stefko stated that “our fourth quarter topline sales results did not meet our expectations, primarily due to the challenges we encountered as a result of our complex systems conversion.” When this news was announced, Vince’s stock price dropped materially, which caused investors harm.
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
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