A Deadline is coming up on September 23, 2019 in the lawsuit for certain investors in L Brands, Inc. (NYSE: LB) and NYSE: LB stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 09/10/2019 -- A deadline is coming up on September 23, 2019 in the lawsuit filed for certain investors in NYSE: LB shares.
Investors who purchased shares of L Brands, Inc. (NYSE: LB) have certain options and there are strict and short deadlines running. Deadline: September 23, 2019. NYSE: LB stockholders should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff alleges on behalf of purchasers of L Brands, Inc. (NYSE: LB) common shares between May 31, 2018 and November 19, 2018, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between May 31, 2018 and November 19, 2018, 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."
Then, on November 19, 2018, L Brands, Inc announced its financial results for the 2018 third quarter, the period ended November 3, 2018. L Brands, Inc also announced that it intended to reduce its annual ordinary dividend to $1.20 from $2.40 beginning with the quarterly dividend to be paid in March 2019 in order to deleverage Company's balance sheet over time.
Shares of L Brands, Inc. (NYSE: LB) declined from $61.45 per share in December 2017 to as low as $21.45 per share in June 2019.
Those who purchased shares of L Brands, Inc. (NYSE: LB) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.