LOS ANGELES, Jan. 5, 2006 (PRIMEZONE) -- Notice is hereby given by Glancy Binkow & Goldberg LLP that a Class Action lawsuit was filed in the United States District Court for the Western District of Texas on behalf of a class (the "Class") consisting of all persons or entities who purchased or otherwise acquired securities of Helen of Troy, Ltd. ("Helen of Troy" or the "Company") (Nasdaq:HELE) between October 12, 2004 and October 10, 2005, inclusive (the "Class Period").
A copy of the Complaint is available from the court or from Glancy Binkow & Goldberg LLP. Please contact us by phone to discuss this action or to obtain a copy of the Complaint at (310) 201-9150 or Toll Free at (888) 773-9224, by email at info@glancylaw.com, or visit our website at www.glancylaw.com.
The Complaint charges Helen of Troy and certain of the Company's executive officers with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and dissemination of materially false and misleading statements concerning Helen of Troy's financial performance caused the Company's stock price to become artificially inflated, inflicting damages on investors. Helen of Troy, Ltd. designs, develops, produces and distributes brand-name personal care and household consumer products in the United States and internationally. The Complaint alleges that defendants' Class Period representations concerning Helen of Troy, Ltd. were materially false and misleading when made for the following reasons: (1) the Company's sales in its personal care business segment were declining due to the lack of solid new product ideas; (2) the Company was experiencing weak revenue growth; and (3) as consequence of the foregoing, the Company's positive earnings guidance throughout the Class Period lacked any reasonable basis.
On October 11, 2005, the Company stunned the market when it announced its financial results for the second quarter ended August 31, 2005. Helen of Troy significantly lowered its guidance for 2006 and reported a year-over-year decline in revenue during its second quarter. As a result of this news, shares of Helen of Troy fell $1.36 per share, or 4.72 percent, to close on October 12, 2005, at $27.44 per share.
Plaintiff seeks to recover damages on behalf of Class members and is represented by Glancy Binkow & Goldberg LLP, a law firm with significant experience in prosecuting class actions, and substantial expertise in actions involving corporate fraud.
If you are a member of the Class described above, you may move the Court, not later than January 23, 2006, 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 with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1801 Avenue of the Stars, Suite 311, Los Angeles, California 90067, by telephone at (310) 201-9150 or Toll Free at (888) 773-9224 or by e-mail to info@glancylaw.com