NEW YORK–(BUSINESS WIRE)–$OLLI #classaction–The law firm of Kirby McInerney LLP is investigating potential claims against Ollie’s Bargain Outlet Holdings, Inc. (“Ollie’s” or the “Company”) (NASDAQ: OLLI). This investigation concerns whether Ollie’s has violated federal securities laws and/or engaged in other unlawful business practices.
On August 28, 2019, Ollie’s announced disappointing financial results for the second quarter and revised sales and earnings guidance for the full-year fiscal 2019. The Company reported comparable store sales decreased 1.7%. In addition, Ollie’s disclosed the existence of a “bottleneck issue” in the supply chain “[t]hat existed for most all of Q2,” which was not corrected until “the last week of the quarter.” On this news, shares of Ollie’s fell $21.41, or 27.5%, to close at $56.36 on August 29, 2019.
If you acquired Ollie’s securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.