Ascena Retail Group, Inc. Class Action Lawsuit - ASNA

(a) the ANN Acquisition was a complete disaster for the Company as Ann’s operations were in far worse condition than had been represented to the public; (b) in order 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; (c) many of the brands acquired in the ANN Acquisition were in steep decline and were also materially overvalued on Ascena’s Class Period financial statements; and (d) as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company, its operations and prospects.

In order to be eligible to join the ASNA class action lawsuit, you must have incurred a loss on shares of purchased during the class period listed above.

If you suffered a loss in during the relevant time frame or pursuant to the relevant offering(s), you have until August 6, 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.