OAKLAND, Calif.--(BUSINESS WIRE)--Girard Gibbs LLP is investigating claims on behalf of investors of J.Jill, Inc. (NYSE: JILL) involving possible securities law violations.
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After the close of trading on Wednesday, October 11, 2017, J.Jill announced that it experienced a lower than expected sales trend across both its retail and direct channels, and that it anticipates same-store sales will fall 3% to 5% in the third quarter. Prior guidance for J.Jill called for comparable sales to increase in the high single digits.
Following this news, on October 12, 2017, J.Jill’s stock price plunged by more than 51% to close at $4.86, causing significant harm to investors.
This news comes just seven months after the company’s initial public offering priced at $13.00 per share on March 9, 2017. According to an analyst at Wells Fargo, “The real issue is that following their recent IPO, the J.Jill story was predicated on sustainable, steady mid-single-digit-to-high-single-digit comp growth and margin expansion, meaning that something may have gone very wrong over the past six months.”
Our investigation focuses on whether information disclosed in connection with the Company’s IPO was materially misleading, or whether the IPO offering material omitted material information that should otherwise have been disclosed to investors.
If you purchased or acquired shares of J.Jill and would like to speak privately with a securities attorney to learn more about the investigation and your legal rights, visit our website or contact the securities team directly at (800) 254-9493.
Girard Gibbs LLP is one of the nation’s leading firms representing individual and institutional investors in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and has earned Tier-1 rankings and been named in the U.S. Lawyers – Best Law Firms list for five consecutive years.
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