SAN DIEGO, Nov. 12, 2019 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in NYSE: LB shares.
Investors, who purchased shares of L Brands, Inc. (NYSE: LB) in April 2018 or earlier and continue to hold any of their NYSE: LB shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On July 23, 2019, a lawsuit was filed against L Brands, Inc. over alleged securities laws violations. The plaintiff alleges that the L Brands’ Victoria’s Secret and PINK businesses began to experience deteriorating operating performance due to, among other things, increased competition from new lingerie brands, that in an attempt to drive sales and retain market share in the face of increasing competition, Victoria’s Secret and PINK engaged in heavy promotional activities by offering consumers large discounts and even giving items free of charge, that while this marketing strategy helped to mitigate sales declines, it adversely impacted the Company’s profit margins and cash flows and had a deleterious impact on the Company’s liquidity, and that in response to questions from securities analysts about the sustainability of the Company’s dividends, defendants repeatedly stated that L Brands had sufficient cash flow and cash on hand to sustain its dividends and that the Company, “in its history, ha[d] never reduced the dividend.”
Those who purchased L Brands, Inc. (NYSE: LB) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.