San Diego, CA -- (SBWIRE) -- 10/14/2013 -- An investor, who purchased shares of Urban Outfitters, Inc. (NASDAQ:URBN)), filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania over alleged violations of Federal Securities Laws by Urban Outfitters, Inc. in connection with certain allegedly false and misleading statements made between March 12, 2013 and September 9, 2013.

Investors who purchased a significant amount of shares of Urban Outfitters, Inc. (NASDAQ:URBN) between March 12, 2013 and September 9, 2013, and / or those who purchased any NASDAQ:URBN prior to March 2013 and currently hold any of those shares, have certain options and there are short and strict deadlines running. Deadline: December 10, 2013. NASDAQ:URBN investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired Urban Outfitters, Inc. (NASDAQ:URBN) between March 12, 2013 and September 9, 2013, that Urban Outfitters, Inc. and certain of its officers and directors violated the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

More specifically, the plaintiff claims 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.

Urban Outfitters, Inc. reported that its Total Revenue rose from over $2.47 billion for the 12 months period that ended on Jan. 31, 2012, to over $2.79 billion for the 12 months period that ended on Jan. 31, 2013 and that its respective Net Income increased from $185.25 million to $237.31 million.

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) rose from$25.62 per share in July 2012 to as high as $44.54 per share in May 2013, respectively $43.7 per share in August 2013.

Then on September 9, 2013, Urban Outfitters, Inc. (NASDAQ:URBN) announced its second quarter 2014 financial results and commented on third quarter 2014 expectations.

Shares of Urban Outfitters, Inc. (NASDAQ:URBN) declined from $42.76 per share on September 9, 2013, to as low as $35.03 per share on Oct. 9, 2013.

On Oct. 11, 2013, NASDAQ:URBN shares closed at $35.90 per share.

Those who purchased shares of Urban Outfitters, Inc. have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com