LOS ANGELES–(BUSINESS WIRE)–$ASNA #ASNA—The
Schall Law Firm, a national shareholder rights litigation firm,
announces the filing of a class action lawsuit against Ascena Retail
Group, Inc. (“Ascena” or “the Company”) (NASDAQ: ASNA)
for violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and
Exchange Commission.
Investors who purchased the Company’s shares between September 16, 2015
and June 8, 2017, inclusive (the “Class Period”), are encouraged to
contact the firm before August 6, 2019.
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm,
1880 Century Park East, Suite 404, Los Angeles, CA 90067, at
424-303-1964, to discuss your rights free of charge. You can also reach
us through the firm’s website at www.schallfirm.com,
or by email at [email protected].
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading
statements to the market. Ascena’s acquisition of ANN, Inc. developed
into a disaster for the Company based on ANN’s operations to be in far
worse condition than was generally believed to be the case. The Company
improperly delayed the recognition of an impairment charge related to
ANN’s goodwill to mask the true extent of this problem. Based on this
delay, the Company’s income and assets were overstated and its financial
results were not in conformity with GAAP. Ascena overvalued many of the
brands in the ANN acquisition as they were in serious decline. Based on
these facts, the Company’s public statements were false and materially
misleading throughout the class period. When the market learned the
truth about Ascena, investors suffered damages.
Join
the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
litigation.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.
Contacts
The Schall Law Firm
Brian Schall, Esq.
www.schallfirm.com
Office:
310-301-3335
Cell: 424-303-1964
[email protected]
