NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces the filing
of a class action lawsuit on behalf of purchasers of the securities of
Ascena Retail Group, Inc. (NASDAQ: ASNA) from September 16, 2015 through
June 8, 2017, inclusive (the “Class Period”). The lawsuit seeks to
recover damages for Ascena investors under the federal securities laws.
To join the Ascena class action, go to http://www.rosenlegal.com/cases-register-1601.html
or call Phillip Kim, Esq. toll-free at 866-767-3653 or email firstname.lastname@example.org
or email@example.com for
information on the class action.
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. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS
MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN
ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD
According to the lawsuit, defendants throughout the Class Period made
false and/or misleading statements and/or failed to disclose that: (1)
the Company’s acquisition of ANN, Inc., the parent company of Ann Taylor
and LOFT, was a complete disaster for the Company as ANN’s operations
were in far worse condition than had been represented to the public; (2)
to mask the true condition of ANN, Defendants improperly delayed
recognizing an impairment charge to the value of ANN’s goodwill and, as
a result, Ascena’s reported income and assets were materially overstated
and the Company’s financial results were not prepared in conformity with
GAAP; (3) many of the brands acquired in the ANN acquisition were in
steep decline and were also materially overvalued on Ascena’s Class
Period financial statement; and (4) defendants’ positive statements
about Ascena’s business, operations, and prospects were materially
misleading and/or lacked a reasonable basis. When the true details
entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than August 6, 2019. A
lead plaintiff is a representative party acting on behalf of other class
members in directing the litigation. If you wish to join the litigation,
go to http://www.rosenlegal.com/cases-register-1601.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. of Rosen Law Firm toll free at
866-767-3653 or via e-mail at firstname.lastname@example.org
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013. Rosen
Law Firm has secured hundreds of millions of dollars for investors.
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
Madison Avenue, 34th Floor
New York, NY 10016
Toll Free: (866) 767-3653
Fax: (212) 202-3827