San Diego, CA -- (SBWIRE) -- 06/02/2017 -- An investor in shares of Vince Holding Corp (NYSE:VNCE) filed a lawsuit against Vince Holding Corp over alleged Securities Laws violations in connection with certain allegedly false and misleading statements made by Vince Holding.

Shares of Vince Holding Corp (NYSE:VNCE) declined from $37.65 per share in June 2014 to as low as $0.28 per share on May 2, 2017.

Investors who purchased shares of Vince Holding Corp (NYSE:VNCE) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

The plaintiff claims that between December 8, 2016 and April 27, 2017, the defendants issued materially false and/or misleading statements and/or failed to disclose that during the transition from legacy Kellwood systems, Vince experienced issues related to integrating its new enterprise resource planning systems, and that as a result, defendants' statements about Vince's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

New York based Vince Holding Corp is a United States-based company, which offers a range of women's and men's apparel, women's and men's footwear, and handbags. Vince Holding Corp reported that its Total Revenue declined from $340.40 million for the 52 weeks period that ended on January 31, 2015 to $302.46 million for the 52 weeks period that ended on January 30, 2016 and that its Net Income for those time periods fell from $35.72 million to $5.10 million.

On December 8, 2016, Vince Holding Corp disclosed that "[t]he Company is currently in the process of transitioning the remainder of the Kellwood systems and services, including…its own enterprise resource planning ("ERP") and supporting systems and related IT support services."

On April 14, 2017, Vince Holding Corp disclosed that the filing of its Form 10-K for fiscal year 2016 with the SEC will be delayed due to "the transition from Kellwood, the Company's former parent company, and the integration of the Company's new ERP System with its internal business processes and third-party systems."

On April 28, 2017, Vince Holding Corp reported its fourth quarter and fiscal year 2016 resuls. Vince Holding Corp reported that its Total Revenue declined from $302.46 million for the 52 weeks period that ended on Januayr 30, 2016 to $268.20 million for the 52 weeks period that ended on Janaury 28, 2017 and that its Net Income of $5.10 million for the 52 weeks period that ended on Januayr 30, 2016 decreased to a Net loss of $162.66 million for the 52 weeks period that ended on Janaury 28, 2017. Vince Holding Corp disclosed that "[r]esults for the fourth quarter came in below our expectations, due primarily to challenges related to our systems conversion."

On that same day, Vince Holding Corp CEO Brendan Hoffman stated during an earnings call that "a lot of the constraint was due to our systems in last three-months not getting a little bit more product out there." On that same call, Vince Holding Corp CFO David Stefko stated that "our fourth quarter topline sales results did not meet our expectations, primarily due to the challenges we encountered as a result of our complex systems conversion."

Those who purchased shares of Vince Holding Corp 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