NEW YORK, March 09, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of G-III Apparel Group Ltd. GIII based on allegations that G-III disclosed potentially materially misleading business information to the investing public.
SO WHAT: If you have purchased G-III securities, you may be entitled to compensation without payment of expenses or costs through a contingency fee arrangement. Law firm Rosen is preparing a class action lawsuit to recover investor losses.
WHAT TO DO NEXT: To participate in the prospective class action lawsuit, go to https://rosenlegal.com/submit-form/?case_id=11207 or call Phillip Kim, Esq. toll free at 866-767-3653 or by email firstname.lastname@example.org or email@example.com for information about the Class Action.
WHAT IS THIS ABOUT: On December 1, 2022, G-III reported its third quarter financial and operating results. Among other things, G-III reported that “higher stock levels were due to our accelerated production calendar, which anticipated longer lead times in the supply chain. Our stock consists of current purchases and is managed by our order book. During the quarter, we experienced logistical challenges in our distribution centers as inventory levels increased. This resulted in a significant non-recurring charge in the third quarter that exceeded our expectations and negatively impacted our bottom line by approximately $0.40 per diluted share.”
As a result of this news, G-III’s stock price fell $9.66 per share, or 44%, to close at $11.97 per share on December 1, 2022.
WHY ROSES LAW: We encourage investors to select qualified advisors with a track record in leadership positions. Frequently, companies that issue notices do not have comparable experience, resources, or meaningful recognition from peers. Many of these firms do not conduct securities class action lawsuits. Be wise in choosing a lawyer. The law firm Rosen represents investors throughout…