Levi & Korsinsky, LLP announces that a LB class action lawsuit has been commenced on behalf of investors who purchased L Brands, Inc. (LB) securities between May 31, 2018 and November 19, 2018. For more on the L Brands Class Action please contact us today.
According to the L Brands lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) the Victoria’s Secret and PINK businesses were having a material adverse effect on the Company’s cash flow, liquidity and debt levels; (2) Defendants lacked a reasonable basis for their positive statements about the ability of the Company to sustain its dividend; (3) the MD&A disclosures in filings L Brands made with the SEC were materially false and misleading; (4) the risk factor disclosures in filings L Brands made with the SEC were materially false and misleading; (5) the representations about L Brands’ disclosure controls in filings the Company made with the SEC were materially false and misleading; (6) the certifications issued by Defendants Wexner and Burgdoerfer on L Brands disclosure controls were materially false and misleading; and (7) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about L Brands’ then-current business operations and future financial prospects.
TO LEARN MORE ABOUT THE LB CLASS ACTION, VISIT: https://www.zlk.com/pslra-1/l-brands-inc-loss-form?prid=3557&wire=1
If you suffered a loss in L Brands you have until September 23, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171