Securities Fraud Investigation Into Movado Group, Inc. (MOV) Announced – Investors Who Lost Money Urged To Contact The Law Offices of Frank R. Cruz

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Movado Group, Inc. (“Movado” or the “Company”) (NYSE: MOV) on behalf of investors concerning the Company’s possible violations of federal securities laws.

IF YOU ARE AN INVESTOR WHO LOST MONEY ON MOVADO GROUP, INC. (MOV), CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING A CLAIM TO RECOVER YOUR LOSS.

What Is The Investigation About?

On April 11, 2025, Movado disclosed that it had “[become] aware of allegations of misconduct within the Dubai branch” of its subsidiary, MGI Luxury Group Sárl, and “determined that the former managing director of the Dubai Branch . . . as well as certain employees under his direction, took actions that resulted in an overstatement of sales, premature recognition of sales, and underreporting of credit notes (e.g., sales discounts) owed to customers,” including “the use of a third-party warehouse unknown to the Company’s management to facilitate the premature recognition of sales, and the falsification of documents to circumvent internal controls. The conduct occurred over a period of approximately five years[.]” The Company further determined that its financial statements dating back to 2022 require restatements and disclosed that management had “identified a material weakness in internal control over financial reporting.”

On this news, Movado’s stock price fell as much as 6.9% during intraday trading on April 11, 2025, thereby injuring investors.

Contact Us To Participate or Learn More:

If you purchased Movado 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 us:

The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Call us at: 310-914-5007
Email us at: [e-mail]
Visit our website at: www.frankcruzlaw.com.
Follow us for updates on Twitter at twitter.com/FRC_LAW.

If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.