BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming July 5, 2017 deadline to file a lead plaintiff motion in the class action lawsuit filed on behalf of investors who purchased or otherwise acquired Vince Holdings Corp. (“Vince” or the “Company”) (NYSE: VNCE) securities between December 8, 2016 and April 27, 2017, inclusive (the “Class Period”). Vince investors have until July 5, 2017 to file a lead plaintiff motion.
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.
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.
If you purchased Vince shares, you may move the Court no later than July 5, 2017 to request appointment as lead plaintiff. 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.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.