INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Movado Group, Inc. To Contact The Firm - MOV
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Movado Group, Inc. (“Movado” or the “Company”) (NYSE: MOV) of the April 6, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Movado and certain officers of the Company.
A complaint has been filed in the United States District Court for the District of New Jersey on behalf of all persons who purchased or otherwise acquired Movado publicly traded common stock between March 26, 2014 and November 13, 2014 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its statements concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, Movado made false and misleading statements regarding: (i) the business prospects and the growth of the Movado brand and the Company’s portfolio of licensed brands; and (ii) Movado’s initiative to increase sales of the Movado brand by cannibalizing various retailers’ shelf space of the Company’s other brands.
On November 14, 2014, Movado announced disappointing financial results for the third quarter of 2014 and lowered financial outlook for the 2015 fiscal year.
Following this news, the price of the Company’s stock declined by $12.26 per share, or over 31%, to close on November 14, 2014 at $26.25 per share.
If you invested in Movado common stock or options between March 26, 2014 and November 13, 2014 and would like to discuss your legal rights you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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