An investigation for long-term investors in NASDAQ:URBN shares over potential wrongdoing at Urban Outfitters, Inc. was announced and current long-term NASDAQ:URBN stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/01/2015 -- An investigation for current long-term investors in NASDAQ:URBN shares was initiated concerning potential wrongdoing by certain Urban Outfitters officers and directors that caused damages to the company and NASDAQ:URBN stockholders.
Investors who purchased shares of Urban Outfitters, Inc. (NASDAQ:URBN) in early 2013 and currently hold any of those NASDAQ:URBN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Urban Outfitters officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by engaging in allegedly improper insider sales and/or misrepresenting information related to slowing sales growth at Urban Outfitters brand stores during the period March 12, 2013 through September 9, 2013.
In October 2013 a lawsuit was filed against Urban Outfitters, Inc. over alleged securities Laws Violations. The plaintiff claimed that between March 12, 2013 and September 9, 2013 defendants issued materially allegedly false and misleading statements regarding Urban Outfitters Inc's financial performance and future prospects and/or failed to disclose that Urban Outfitters Inc's comparable sales growth had significantly declined, particularly in its all-important Urban Outfitters group, that as a results of declining sales, Urban Outfitters Inc was forced to offer an additional 30% off all clearance items during Labor Day weekend 2013, something it had not been forced to do during the prior year Labor Day weekend, and that as a result of the foregoing, Urban Outfitters Inc was not on track to achieve the financial results defendants had led the market to expect March 12, 2013 and September 9, 2013.
On May 28, 2015, NASDAQ:URBN shares closed at $34.66 per share.
Those who purchased shares of Urban Outfitters, Inc. (NASDAQ:URBN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com