SAN DIEGO, Sept. 9, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Kohl's Corporation (KSS) common stock over alleged violations of Federal Securities Laws by Kohl's Corporation in connection with certain allegedly false and misleading statements made between February 26, 2009 and September 13, 2011.
Investors who purchased a significant amount of shares of Kohl's Corporation (KSS) between February 26, 2009 and September 13, 2011, and / or those who purchased KSS shares prior to February 2009 and currently hold any of those shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779-1554.
The plaintiff alleges on behalf of purchasers of Kohl's Corporation (KSS) common stock during the period between February 26, 2009 and September 13, 2011, that Kohl's Corporation and certain of its officers and directors violated the Securities Exchange Act of 1934.
On Aug 04, 2011 Kohl's Corporation reported July Comparable Store Sales. Among other things, Kohl's Corporation said that it had identified certain errors in its accounting for its leases and had "commenced a detailed review of its historical lease accounting with the goal of quantifying the impact of these errors for each affected reporting period." On August 11, 2011, Kohl's Corporation announced that as a result of errors related to its accounting for leases, investors should no longer rely upon the financial statements included in the Company's 2010 Form 10-K and first quarter 2011 Form 10-Q. Then, on September 8, 2011, Kohl's Corporation filed a notification of late filing with the SEC disclosing that Kohl's Corporation was unable to file its Form 10-Q for the quarter ended July 30, 2011, due to various errors in its accounting for both store and equipment leases.
The plaintiff seeks to recover damages.
Those who purchased shares of Kohl's Corporation (KSS) have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.