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URBN Urban Outfitters Inc

39.99
0.59 (1.50%)
04 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Urban Outfitters Inc NASDAQ:URBN NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.59 1.50% 39.99 21.52 41.91 40.34 39.61 39.63 1,275,622 05:00:06

URBN ALERT: Shareholder Rights Law Firm Johnson & Weaver, LLP Announces Investigation of Certain Officers & Directors of Urba...

17/11/2015 4:23pm

Business Wire


Urban Outfitters (NASDAQ:URBN)
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Shareholder Rights Law Firm Johnson & Weaver, LLP is investigating whether certain officers or directors of Urban Outfitters, Inc. (NASDAQ: URBN) violated state or federal laws in connection with statements regarding Urban Outfitters’ business, operations and financial prospects. Urban Outfitters is a lifestyle specialty retail company, engages in the retail and wholesale of general consumer products.

Specifically, on or about May 4, 2015, in a case pending in the United States District Court for the Eastern District of Pennsylvania on behalf of purchasers of Urban Outfitters, Inc., brought on behalf of a class of shareholders who purchased the Company’s stock between March 12, 2013 and September 9, 2013 (“the “Securities Class Action”), the Court denied defendants’ motion to dismiss. The complaint in the Securities Class Action alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s financial performance and future prospects and/or failed to disclose the following adverse facts: (a) Urban Outfitters’ comparable sales growth had significantly declined, particularly in its all-important Urban Outfitters group; (b) as a results of declining sales, Urban Outfitters 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 (c) as a result of the foregoing, the Company was not on track to achieve the financial results defendants had led the market to expect during the Class Period.

If you are a continuous, long-term shareholder of Urban Outfitters stock, you may have standing to hold the Company harmless from the damage the officers and directors caused by making them personally responsible. You may also be able to assist in reforming the Company’s corporate governance to prevent future wrongdoing.

If you are an Urban Outfitters shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Al Myers (amyers@johnsonandweaver.com) at (404) 931-7735. If emailing, please include a phone number where you can be reached.

About Johnson & Weaver, LLP:

Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.

Johnson & Weaver, LLPAl Myers, (404) 931-7735amyers@johnsonandweaver.com

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