Connect with us

Business Wire

INVESTOR ALERT: Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Ascena Retail Group Investors (ASNA)

Business Wire

Published

on

Reading Time: 2 minutes

BENSALEM, Pa.–(BUSINESS WIRE)–$ASNA #classaction–Law Offices of Howard G. Smith announces that a class action lawsuit has
been filed on behalf of investors who purchased Ascena Retail
Group (“Ascena” or the “Company”) (NASDAQ: ASNA)
securities between September 16, 2015 and June 8, 2017, inclusive
(the “Class Period”). Ascena Retail investors have until August 6,
2019
to file a lead plaintiff motion.

Investors suffering losses on their Ascena Retail investments are
encouraged to contact the Law Offices of Howard G. Smith to discuss
their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.

On May 18, 2015, the Company announced that it would acquire ANN Inc.
for a combination of cash and stock.

On September 19, 2016, the Company filed a Form 10-K for fiscal year
ended July 30, 2016, that reported $733.9 million goodwill related to
ANN, which is a $225.7 million reduction.

On this news, the Company’s share price fell $2.43, or nearly 30%, to
close at $5.69 on September 20, 2016, thereby injuring investors.

Then, on May 17, 2017, the Company revised its third quarter and full
fiscal year 2017 sales and earnings outlook, further noting that the
Company would be taking an unspecified impairment charge.

On this news, the Company’s share price fell $0.76, or nearly 27%, to
close at $2.06 on May 18, 2017, thereby further injuring investors.

Then, on June 8, 2017, the Company issued a press release regarding its
third quarter financial results, reporting a GAAP loss of $5.29 per
diluted share compared to net earnings of $0.08 per diluted share for
the same period in the year prior. The loss included a $1.324 billion
impairment charge to the Company’s goodwill and other intangible assets.

The complaint filed in this class action alleges that throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose to investors: (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) that, as a result of the foregoing,
Defendants’ positive statements about the Company’s business,
operations, and prospects were materially misleading and/or lacked a
reasonable basis.

If you purchased shares of Ascena Retail, have information, would like
to learn more about these claims, or have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by
telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com,
or visit our website at www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

Contacts

Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com

For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.

For the last half century, thousands of communications professionals have turned to us to deliver their news to the audiences most important to their business through the sources they trust most. Over that time, we've gone from a single office with one full time employee to more than 500 employees in 32 bureaus.

Business Wire

Cambodia Junior National Canoe Team Members to Visit Japan as Part of Japan Exchange Program JENESYS 2019

Business Wire

Published

on

Reading Time: 2 minutes

TOKYO–(BUSINESS WIRE)–Sixteen members of the Cambodia junior national canoe team are scheduled to visit Japan from September 17–25 as part of the Japan Exchange Program JENESYS 2019 promoted by the Ministry of Foreign Affairs (MOFA).

We invite the group to enjoy canoe-related tours and lectures in Tokyo, and then to visit Ishikawa Prefecture to participate in the 15th Japan Canoe Sprint Junior/Junior Youth Komatsu Tournament, joint practice with the Japan national team, a social gathering with high school students, and other activities, all in an effort to promote personal exchange between Japan and Cambodia through sports. Our aims with these activities are to effectively share the appeals of Japan and to further promote the future development of the sports industry in Cambodia and friendly relations between Cambodia and Japan.

We hope that participants in this program will proactively share the appeals of Japan and other information after returning to Cambodia.

For reference: Japan Exchange Program JENESYS 2019

People with the ability and future mission to deliver messages between Japan and the countries and regions of Asia and Oceania are invited and dispatched in order to promote an understanding of Japan with regard to politics, economics, society, culture, history, foreign policy, and the like, and pro-Japanese people and experts on Japan are discovered in order to strengthen Japan’s message to other countries and expand Japan’s diplomatic foundation by having the guests and dispatchees take the initiative to spread information about the diplomatic stance, appeals, and other facets of Japan.

Schedule

Tuesday, September 17

Arrive in Japan, orientation, lecture by the Japan Canoe Federation, etc.

Wednesday, September 18

Tour Sea Forest Waterway, etc.

Thursday, September 19

Travel to Ishikawa Prefecture

Courtesy visit to the Komatsu City Office

Joint practice with the Japan national team

Friday, September 20

Visit Komatsu Ltd.

Social gathering

Saturday, September 21–Monday, September 23

Participate in the 15th Japan Canoe Sprint Junior/Junior Youth Komatsu Tournament

Tuesday, September 24

Travel to Tokyo

Presentation of outcomes, etc.

Wednesday, September 25

Depart Japan

Contacts

Inquiries about the program

JENESYS 2019 ASEAN + East Timor Project Implementing Agency

JTB Kasumigaseki Operations Department

Contact: Junji Mise (Mr.), Yutaka Shintani (Mr.)

TEL: +81-3-6737-9447

Weekdays: 9:00-18:00 (Closed on weekends and holidays)

[Email] jenesys2019asean@jtb.com

Continue Reading

Business Wire

CommerceWest Bank Supported Caterina’s Club and Provided Warm Meals, Affordable Housing, and Job Training Assistance to Low-Income Families

Business Wire

Published

on

Reading Time: 2 minutes

IRVINE, Calif.–(BUSINESS WIRE)–CommerceWest Bank (OTCBB: CWBK) supported Caterina’s Club and provided warm meals, affordable housing and job training assistance to low-income families throughout Southern California. Caterina’s Club “Feeding Kids in America” program feeds over 25,025 children a week. The “Welcome Home” program provides qualified families, living in the dark environment of a motel, with the necessary resources to move into the safety and stability of an apartment or condo.

Chef Bruno Serato commented, “It’s time to stop talking about it and do something about it.” He continued, “Thank you all so much for supporting Caterina’s Club, the children, and families we serve. This year’s gala wouldn’t be a success without grand supporters such as CommerceWest Bank. Thank you!”

Ivo A. Tjan, Chairman and CEO of CommerceWest Bank, stated, “A lot of families take for granted how meaningful it is to sit down and have a nightly dinner. It is disheartening to think of, especially when thousands of children in our community go to bed hungry, without an adequate roof over their head.” He continued, “We are excited to be able to help Chef Bruno Serato provide warm meals and affordable housing to underprivileged children and low-income families in our community.”

CommerceWest Bank is a California based full service commercial bank with a unique vision and culture of focusing exclusively on the business community. Founded in 2001 and headquartered in Irvine, California. The Bank serves businesses throughout the state with an emphasis on clients in Orange County, San Diego, Los Angeles, and Riverside Counties. We are a full service business bank and offer a wide range of commercial banking services, including concierge services, remote deposit solution, online banking, mobile banking, lines of credit, working capital loans, commercial real estate loans, SBA loans, and cash management services.

Mission Statement: CommerceWest Bank will create a complete banking experience for each client, catering to businesses and their specific banking needs, while accommodating our clients and providing them high-quality, low stress and personally tailored banking and financial services.

Please visit www.cwbk.com to learn more about the bank. “BANK ON THE DIFFERENCE”

Contacts

Ivo A. Tjan, Chairman and CEO

Work Phone: 949-474-5278 (Media Only)

Continue Reading

Business Wire

Cabinet painting is a cost-effective way to modernize the kitchen and increase property value.

Business Wire

Published

on

Reading Time: 2 minutes

CALGARY, Alberta–(BUSINESS WIRE)–Kitchen renovations have one of the highest returns on investment compared to other home renovations. A modern, updated kitchen will add value to a property and make it more attractive to buyers. The largest financial component of a kitchen renovation is the cabinetry.

“Homeowners can experience huge savings on their kitchen renovation when they choose cabinet painting over a full cabinet replacement,” said Chris White of New Look Cabinets in Calgary. “Cabinet painting can make the kitchen look like new, at a fraction of the cost.”

The best advice is to hire Calgary cabinet painters for this project, but homeowners can attempt to DIY cabinet painting. Here are some instructions on how to paint kitchen cabinets.

  1. Choose paint: Choose a paint that will best adhere to your cabinet material and give lasting durability. You should also consider what paint colour will best suit your home’s overall design and your personal taste.
  2. Prepare the kitchen: Before starting, remove everything from the kitchen and cabinets that might get in the way.
  3. Remove cabinet doors, drawer fronts, and hardware: Take everything off the cabinet boxes and label it for easy reassembly.
  4. Clean and sand the surfaces: Wipe down all surfaces with a grease-removing cleaner. Then lightly sand all doors, drawer fronts and side panels. Remember to wipe off the dust afterwards.
  5. Prime and paint the cabinets: You can choose to paint them using a brush, compressor and paint gun, or have them painted by Calgary cabinet painters in a professional spray shop. Be sure to apply a primer and allow it to completely dry before putting on the top coat.

Homeowners should be aware that cabinet painting is a time consuming, detail-oriented job. If you are not comfortable with your ability, or you do not have enough time to complete the job properly, you should consider hiring professional cabinet painters.

“We have the experience, skills and equipment to get the job done efficiently and with seamless, professional results,” said White. “If you can’t commit the time, it is well worth the money to have your kitchen cabinets painted by a professional company.”

New Look Cabinets & Interiors is a RenovationFind Certified Painting Company in Calgary. They specialize in interior painting, as well as cabinet painting, cabinet refinishing and furniture refinishing. They offer superior workmanship, excellent customer service and are passionate about every project they work on. For more information, or for help with your next paint job, visit www.newlookcabinets.com.

Contacts

Chris White

403-719-7246

Continue Reading

Font Resizer

Subscribe to PICANTE via Email

Enter your email address to subscribe to PICANTE and receive notifications of new posts by email.

Follow us on Facebook

Read more from our authors

Follow our Tweets

Trending

Please turn AdBlock off