THE CHILDREN'S PLACE, INC. Upcoming Lead Plaintiff Deadline is April 29, 2024
NEW YORK, March 26, 2024 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP ("Wolf Haldenstein") announces that a federal securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of acquirers of The Children's Place, Inc. (NASDAQ: PLCE) securities between March 16, 2023 and February 8, 2024, inclusive (the "Class Period").
All investors who purchased shares and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses, you may, no later than April 22, 2024, request that the Court appoint you as the lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights.
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The Children's Place class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Children's Place was engaged in aggressive promotions.
- as a result, Children's Place's inventory values were overstated; and
- the above was reasonably likely to have an adverse impact on fiscal year 2023
financial results.
The filed complaint alleges that on February 9, 2024, Children's Place revealed that it now expected fourth quarter of 2023 net sales between $454 million and $456 million, falling short of previously issued guidance. The complaint further alleges that Children's Place also disclosed that it would expect to incur an adjusted operating loss for the fourth quarter in range of (9.0%) to (8.0%) of net sales, which reflected the impact of "lower than expected merchandise margin resulting from more aggressive promotions in an effort to maximize sales, higher than anticipated split shipments to meet customer e-commerce demand, and increased inventory valuation adjustments."
On this news, the price of Children's Place shares fell nearly 37%.
Wolf Haldenstein has experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas, and offices in New York, Chicago, Nashville and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
