BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of G-III Apparel Group, Ltd. (“G-III” or the “Company”) (NASDAQ: GIII) investors concerning the Company’s possible violations of federal securities laws.
On November 30, 2022, G-III announced third-quarter operating results, disclosing that higher inventory levels caused “logistical challenges within [its] distribution centers.” As a result, the Company reported “significant” charges in the third quarter “that were above [its] expectations, which adversely impacted [its] bottom line by approximately $0.40 per diluted share.”
On this news, G-III’s stock price fell $9.66, or 44.7%, to close at $11.97 per share on December 1, 2022, thereby injuring investors.
If you purchased G-III securities, have information or would like to learn more about these claims, or 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 howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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