NEW YORK , Sept. 27, 2005 (PRIMEZONE) -- Notice is hereby given that a class action lawsuit was commenced in the United States District Court for the Southern District of Ohio on behalf of all purchasers of Abercrombie & Fitch Co. ("Abercrombie" or the "Company") (NYSE:ANF) securities between June 2, 2005 and August 16, 2005, inclusive (the "Class Period"). A copy of the complaint filed in this action can be viewed on the firm's website at www.faruqilaw.com
The complaint charges defendants with violations of federal securities laws by, among other things, issuing a series of materially false and misleading press releases concerning Abercrombie's financial results and business prospects. Specifically, the complaint alleges that Abercrombie misled investors by touting its monthly and quarterly sales results, while at the same time failing to disclose that the Company's margins, a material indicator of its true financial condition, would be lower than expected in its 2005 second fiscal quarter, as compared to the second quarter of 2004. As a result, the price of the Company's common stock was artificially inflated throughout the Class Period, allowing Abercrombie's Chairman and CEO to sell more than 1.6 million shares of Abercrombie common stock reaping $118 million in profits. Following the revelation of this undisclosed information, Abercrombie's common stock plummeted, resulting in substantial losses to shareholders.
Plaintiff seeks to recover damages on behalf of himself and all other individual and institutional investors who purchased or otherwise acquired Abercrombie securities between June 2, 2005 and August 16, 2005, excluding defendants and their affiliates. Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud.
If you wish to obtain information concerning joining this action you can do so under the "Join Lawsuit" section of our website at www.faruqilaw.com
If you purchased Abercrombie securities during the Class Period, you may, not later than November 1, 2005, move the court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
Anthony Vozzolo, Esq. Beth A. Keller, Esq. Faruqi & Faruqi, LLP 320 East 39th Street New York, NY 10016 Telephone: (877) 247-4292 or (212) 983-9330 e-mail: Avozzolo@faruqilaw.com Bkeller@faruqilaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca