NEW YORK, Sept. 30, 2013 (GLOBE NEWSWIRE) -- Morgan & Morgan announces that a class action has been filed in the United States District Court for the Southern District of New York on behalf of purchasers of Francesca's Holdings Corporation ("Francesca's Holdings" ) (Nasdaq:FRAN) common stock during the period between March 20, 2013 and September 3, 2013 (the "Class Period").
If you purchased Francesca's Holdings during the Class Period, you may, no later than November 26, 2013, request that the Court appoint you lead plaintiff of the proposed class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
If you purchased Francesca's Holdings and want more information about the Francesca's Holdings Securities Class Action please contact George Pressly, Esq. at 1 (800) 631-6234 or email George at AskGeorge@morgansecuritieslaw.com.
The complaint charges Francesca's Holdings and certain of its executives with violations of federal securities laws. The complaint alleges that during the class period Francesca's Holdings and certain of its executives issued a series of materially false and misleading statements during the Class Period, specifically the complaint alleges that the Company concealed from its shareholders the following: (i) spring and summer weather and a competitive back-to-school retail environment weighed on same-store sales growth; (ii) same-store sales were declining; and (iii) the Company was not on track to achieve the financial results defendants had led the market to expect.
On September 4, 2013, following the announcement of dismal second quarter 2013 financial results and third quarter 2013 guidance, shares of Francesca's Holdings fell nearly 26 percent to close at $17.79.
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