An investigation for investors in NYSE:TLRD shares over potential securities laws violations by Tailored Brands was announced and NYSE:TLRD stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/23/2016 -- An investigation for shareholders of Tailored Brands Inc (NYSE:TLRD) over possible violations of securities laws by Tailored Brands in connection certain financial statements was announced.
Investors who purchased shares of Tailored Brands Inc (NYSE:TLRD), 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 focuses on possible claims on behalf of purchasers of the securities of Tailored Brands Inc (NYSE:TLRD) concerning whether a series of statements by Tailored Brands regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On June 18, 2014, Tailored Brands Inc (at the time known by its former name, The Men's Wearhouse, Inc) announced the completion of its acquisition of Jos. A. Bank Clothiers, Inc. for $65.00 per share.
On November 5, 2015 post market, the Company released its initial third quarter results with an updated fiscal year 2015 outlook. Shareholders were told that there "were significant comparable sales weakness at Jos. A. Bank. During the third quarter comparable sales decreased 14.6% at Jos. A. Bank, far below the Company's earlier expectations. This decrease was primarily driven by a decline in traffic as the Company began the transition away from the Buy-One-Get-Three promotional events."
The Company's fourth quarter, which should have been busier during Holiday season, expected sales at Jos. A. Bank to be down between 20 – 25% compared to the prior year's fourth quarter.
On December 9, 2015, post market, the Company released its third quarter earnings, which were even more disappointing than its previously expectations. Furthermore, Jos. A. Bank same-store sales in the fourth quarter was down about 35%. Following this news, Tailored Brands, Inc. stock (known as The Men's Wearhouse, Inc. at the time), fell an additional $3.30 per share to close at $15.27.
On January 31, 2016, Tailored Brands Inc became the holding company of Men's Wearhouse.
On March 21, 2016, NYSE:TLRD shares closed at $17.36 per share.
Those who purchased shares of Tailored Brands Inc (NYSE:TLRD) 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