Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Tailored Brands, Inc. To Contact The Firm Before Lead Plaintiff Deadline
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Tailored Brands, Inc. (“Tailored Brands” or the “Company”) (NYSE:TLRD) of the May 31, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.
The lawsuit has been filed in the U.S. District Court for the Southern District of Texas on behalf of all those who purchased Tailored Brands securities between June 18, 2014 and December 9, 2015 (the “Class Period”). The case, Makhlouf v. Tailored Brands, Inc. et al., No. 4:16-cv-00838 was filed on March 29, 2016, and has been assigned to Judge Melinda Harmon.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to appropriately disclose the sales weakness of Jos A. Bank Clothiers, Inc (“Jos A. Bank”) during Jos A. Bank’s acquisition by the Company.
However, on November 5, 2015, the Company disclosed poor preliminary results for the third quarter of 2015, citing sales weakness at Jos. A Bank stores. Tailored Brands also announced that fourth quarter expected sales were cut by 20-25% from the same period in the previous year. On this news, share closing price fell from $40.10 per share on November 4, 2015 to a closing price of $22.70 on November 5, 2015—a $17.40 or a ~43.39% drop.
Then, on December 9, 2015, the Company disclosed third quarter earnings that were actually worse than anticipated in November, notifying investors that sales at Jos. A Bank were on pace to be below 35% in the fourth quarter. On this news, share closing price fell from $18.97 per share on December 9, 2015 to a closing price of $15.27 on December 10, 2015 —a $3.30 or a ~17.77% drop.
If you invested in Tailored Brands stock or options between June 18, 2014 and December 9, 2015 and would like to discuss your legal rights, please fill out the form below. You can also 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 Tailored Brands’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.
* The submission of this form does not create an attorney-client relationship.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
If you have information regarding this case that you would like to make available, please click here to contact us about our investigation.