NEW YORK, Feb. 5, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A., a global investor rights firm, announces a class action lawsuit has been filed on behalf of investors who purchased American Depository Shares of Movado Group, Inc. (NYSE:MOV) between March 26, 2014 and November 13, 2014. The lawsuit seeks to recover investors' losses by asserting claims under the federal securities laws.
To join the Movado class action, visit the firm's website at http://www.rosenlegal.com/cases-499.html, or contact Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action. The case is pending the U.S. District Court for the District of New Jersey.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
According to the lawsuit, Movado and certain of its officers and directors made false and/or misleading statements regarding: (i) the supposed attractive business prospects and strong growth expected for the Company's flagship Movado brand as well as its portfolio of licenses brands; and (ii) the Company's initiative to boost the Movado brand by cannibalizing one of the Company's other brand's shelf space at various retailers.
On November 14, 2014, the Company issued a press release announcing disappointing third quarter financial results and that the Company would be lowering its fiscal year 2015 guidance. The suit claims that when the truth was revealed, it caused the price of the Company's shares to drop, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than April 6, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation go to http://www.rosenlegal.com/cases-499.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.