Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, April 15, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Children’s Place, Inc. (“The Children’s Place” or the “Company”) (NASDAQ: PLCE) investors that a lawsuit was filed on behalf of investors that purchased Children’s Place securities between March 16, 2023 and February 8, 2024 inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On February 9, 2024, The Children's Place disclosed preliminary financial results for Q4 of fiscal year 2023, indicating expected net sales below previous guidance and a projected adjusted operating loss due to aggressive promotions, higher split shipment costs, and increased inventory valuation adjustments. Following this news, the company's stock price dropped by 37% on the same day. A class action lawsuit alleges that during the Class Period, The Children's Place made false/misleading statements and failed to disclose: 1) the extent of its aggressive promotional tactics, 2) the overstatement of its inventory values, 3) the likely adverse impact on its fiscal 2023 financial results, and 4) as a result, the company's positive statements about its business and prospects were materially misleading or lacked a reasonable basis.
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The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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