Spector, Roseman & Kodroff, P.C. Announces Class Action Lawsuit Against Abercrombie & Fitch Co.
October 10 2005 - 12:01PM
Business Wire
The law firm of Spector, Roseman & Kodroff, P.C. announces that
a securities class action lawsuit was commenced in the United
States District Court for the Southern District of Ohio, on behalf
of purchasers of the common stock of Abercrombie & Fitch Co.
("Abercrombie" or the "Company") (NYSE:ANF) between May 17, 2005
through August 16, 2005, inclusive (the "Class Period"). The
Complaint alleges that defendants violated the federal securities
laws by issuing materially false and misleading statements
contained in press releases and filings with the Securities and
Exchange Commission during the Class Period. Specifically, the
Complaint alleges that during the Class Period, defendants made
statements that were materially false and misleading because they
failed to disclose the following facts, among others: (a) demand
for Abercrombie's products was slowing, resulting in material
amounts of unsold products and rising inventories; (b) contrary to
defendants' representations that the denim products were "non-risk"
from an inventory standpoint, meaning they would not be marked down
if demand was poor, unsold denim products presented a material risk
to the Company's profitability; and (c) the Company's profit
margins were being negatively impacted by markdowns on unsold
products. If you purchased Abercrombie securities during the Class
Period, you may, no later than November 15, 2005, move to be
appointed as a Lead Plaintiff in this class action. A Lead
Plaintiff is a representative, chosen by the Court, that acts on
behalf of other class members in directing the litigation. The
Private Securities Litigation Reform Act of 1995 directs Courts to
assume that the class member(s) with the "largest financial
interest" in the outcome of the case will best serve the class in
this capacity. Courts have discretion in determining which class
member(s) have the "largest financial interest," and have appointed
Lead Plaintiffs with substantial losses in both absolute terms and
as a percentage of their net worth. If you have sustained
substantial losses in Abercrombie securities during the Class
Period, please contact Spector, Roseman & Kodroff, P.C. at
classaction@srk-law.com for a more thorough explanation of the Lead
Plaintiff selection process. If you have relatively small losses,
your ability to participate in any recovery will be protected by
the Lead Plaintiff(s), and you need take no affirmative steps at
this time. If you wish to join this action or have any questions
concerning this notice or your rights or interests, please contact
plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or
via E-mail at classaction@srk-law.com. For more detailed
information about the firm please visit its website at
http://www.srk-law.com. Spector, Roseman & Kodroff, P.C.,
located in Philadelphia, Pennsylvania, concentrates its practice in
complex litigation including actions dealing with securities laws,
antitrust, contract and commercial claims. The firm is active in
major litigation pending in federal and state courts throughout the
United States. The firm's reputation for excellence has been
recognized on repeated occasions by courts which have appointed the
firm as lead counsel in numerous major class actions involving
violations of the federal securities laws and the federal antitrust
laws, and consumer fraud. As a result of the efforts of the firm,
and its members, hundreds of millions of dollars have been
recovered through judgments and settlements on behalf of thousands
of defrauded shareholders and companies.
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