NEW YORK, Nov. 6, 2009 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Southern District of Ohio on behalf of purchasers of Limited Brands, Inc. ("Limited Brands" or the "Company") (NYSE:LTD) common stock during the period of August 22, 2007 through February 28, 2008, inclusive (the "Class Period"), for violations of the federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Limited Brands common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by January 5, 2010. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
The Complaint alleges that, throughout the Class Period, defendants made numerous positive statements regarding the Company's financial condition, business and prospects. The complaint further alleges that these statements were materially false and misleading when made because defendants failed to disclose adverse events surrounding the development of a new warehouse and certain technology.
On February 27, 2008, Limited Brands issued a press release reporting fourth quarter and full year 2007 earnings. This press release significantly lowered the Company's previously issued guidance for 2008. In response to the announcement, the price of Limited Brands common stock fell from $17.82 on February 27, 2008 to $15.85 on February 28, 2008 on heavy trading volume.