NEW YORK, December 15, 2022 (GLOBE NEWSWIRE) — Pomerantz LLP is investigating claims on behalf of investors of The Gap, Inc. (“Gap” or the “Company”) Geographic Positioning System. Those investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, extension 7980.

The investigation concerns whether Gap and certain of its officers and/or directors have engaged in securities fraud or other illegal business practices.

[Click here for information about joining the class action]

On April 21, 2022, Gap announced that Nancy Green had stepped down from her role as Chief Executive Officer (“CEO”) of Gap’s Old Navy brand.

As a result of this news, Gap’s stock price fell $2.57 per share, or 17.98%, to close at $11.72 per share on April 22, 2022.

On May 20, 2022, The Wall Street Journal published an article revealing that Gap had improperly managed the inventory of plus size clothing at its Old Navy stores, resulting in a significant hit to margins and bottom lines.

As a result of this news, Gap’s stock price fell $0.86 per share, or 7.69%, in the following two trading sessions to close at $10.33 per share on May 23, 2022.

On May 27, 2022, Gap filed its quarterly report for the period ended April 30, 2022 with the Securities and Exchange Commission. Among other things, Gap acknowledges that execution failures related to the size and variety of Old Navy inventory negatively impacted the company’s financial results.

As a result of this news, Gap’s stock price fell $0.57 per share, or 4.91%, to close at $11.03 per share on May 31, 2022.

Finally, on July 11, 2022, Gap announced the resignation of Sonia Syngal from her position as President and CEO of Gap and from the Company’s Board of Directors.

As a result of this news, Gap’s stock price fell $0.44 per share, or 5.02%, to close at $8.32 per share on July 12, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris and Tel Aviv, is recognized as one of the leading law firms specializing in corporate, securities and antitrust litigation….