WILMINGTON, Del., April 04, 2016 (GLOBE NEWSWIRE) -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of Tailored Brands, Inc. (NYSE:TLRD)?
- Did you purchase your shares between June 18, 2014 and December 9, 2015, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of Texas on behalf of all persons or entities that purchased the common stock of Tailored Brands, Inc. (“Tailored Brands” or the “Company”) (NYSE:TLRD) between June 18, 2014 and December 9, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased shares of Tailored Brands during the Class Period, or purchased shares prior to the Class Period and still hold Tailored Brands, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/tailored-brands-inc-tlrd.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on December 9, 2015, the Company issued a press release announcing its consolidated financial results for the fiscal third quarter ended October 31, 2015. In the release, the Company stated that “[t]hrough the first week of December, the quarter-to-date comparable sales at Jos. A. Bank were down 35.1% while our other brands average comparable sales were up 5.5%. If the Jos. A. Bank trend continues through the remainder of the quarter, the Company runs the risk of missing the lower end of the guidance given on November 5, 2015.”
Continuing in the release, the Company’s chief executive officer, Doug Ewert, commented that “[w]hen we acquired Joseph Bank, we knew that we needed to correct the promotional model. However, we underestimated the impact to the near-term performance as we began to execute the difficult, but necessary, corrective steps. We remain confident that these steps will restore a long-term, sustainable, profit model and reshape the business for a healthy and growing Jos. A. Bank.”
On this news, shares of Tailored Brands dropped over 17%, closing at $15.27 per share on December 10, 2015, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than May 31, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed 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.
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