Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Ollie’s Bargain Outlet Holdings, Inc. ("Ollie’s" or the "Company")(NASDAQ:OLLI) of the November 18, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Ollie’s stock or options between June 6, 2019 and August 28, 2019 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. 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.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Ollie’s securities between June 6, 2019 and August 28, 2019 (the "Class Period"). The case, Stirling v. Ollie’s Bargain Outlet Holdings, Inc., No. 19-cv-08647 was filed on September 17, 2019, and has been assigned to Judge J. Paul Oetken.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to build and maintain an effective supply chain system, impacting the availability of inventory for new stores.
On August 28, 2019, Ollie’s reported that comparable store sales decreased 1.7% during second quarter 2019. In addition, Ollie’s disclosed that a "bottleneck issue" had existed in its supply chain "for most all of Q2" and was not corrected until "the last week of the quarter."
On this news, Ollie’s's share price fell from $77.77 per share on August 28, 2019 to a closing price of $56.36 on August 29, 019: a $21.41 or a 27.53% drop.
Ollie’s Bargain Outlet Holdings, Inc.
* The submission of this form does not create an attorney-client relationship.
Filed on 09/20/2019
Lead Plaintiff Deadline 11/18/2019
35 days remaining
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