USA: Investors File Class Action Lawsuit Against Guess?
A lawsuit seeking class action status has been filed in the United States District Court for the Central District of California on behalf of all persons who purchased the common stock of Guess? between February 14, 2000 and November 9, 2000, inclusive. The Complaint alleges that Guess? and four of its top officers misled shareholders and the investing public during the Class Period regarding the company's revenues and earnings. Specifically, it is alleged that the defendants reported record revenues for the first quarter of fiscal year 2000, based upon improperly accounting for inventory-related costs and other expenses, in an effort to revive the stock price enough to raise $120m through a planned secondary offering. However, after the stock price failed to go up, the company persisted in improperly accounting for expenses.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-style gives you the widest apparel and textile market coverage.
Paid just-style members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- Outlook 2017 – What else is the industry watching?
- Outlook 2017 – What next for apparel sourcing?
- Outlook 2017 – Strategies for sourcing success
- Outlook 2017 – Challenges and opportunities
- Is China about to burst its apparel trade bubble?
- 22 dos and dont's – When sourcing goes wrong
- M&S quality focus finally lifts clothing sales
- MAS Holdings planning second industrial park
- Sri Lanka on track to regain EU GSP+ benefits
- Update - Bangladesh "business as usual"
- Global apparel markets: product developments and innovations, October 2016
- Outdoor performance apparel 2016: A broader perspective
- Global market review of lingerie – forecasts to 2022
- Anti-odour clothing: fresh fashion for an active lifestyle
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar