USA: Warnaco In Trouble As Shareholders File Class Action
On August 22, 2000 a Class Action was filed in the US District Court for the Southern District of New York on behalf of all persons and entities who purchased Warnaco Group, Inc (NYSE: WAC) common stock during the period from December 11, 1997 through July 20, 2000 (the "Class Period "), by attorneys Laurence D. Paskowitz, Esq. and Roy L. Jacobs, Esq. Counsel have many years of successful experience in litigating class actions. The lawsuit alleges that during the Class Period, Warnaco and two of its top officers and directors issued materially false and misleading statements regarding Warnaco's earnings, prospects and business practices. In particular, the suit alleges that Warnaco inflated sales through knowing violations of a jeanswear distribution license obtained from Calvin Klein, Inc and the Calvin Klein Trademark Trust ("Klein"). On May 30, 2000, Klein sued Warnaco over these alleged violations. The suit also asserts that Warnaco stock was inflated during the Class Period by misleading earnings forecasts, and that all of the alleged misconduct was motivated by the defendants' interest in profiting from salary, bonuses and stock sales. The complaint further alleges that, during the Class Period, Warnaco and certain of its officers and directors, violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by the issuance of the materially false public statements described above. Plaintiff seeks to recover damages on behalf of the Class and is represented by Laurence D. Paskowitz, Esq. and Roy Jacobs, Esq., attorneys with many years of experience in prosecuting investor class actions. Please contact the undersigned if you have any questions about this Notice, the action, or your rights. You may also learn more about class actions in general by visiting
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.
It’s our best ever membership offer – just for you.
Leonie Barrie, editor of just-style
Help test our new apparel sourcing tool.
- What TTIP might mean for US, EU textiles & apparel
- Unlocks for the future fashion sourcing landscape
- EU eyes mandatory due diligence for apparel supply
- Geo-political uncertainty and how to survive it
- Where next for Corporate Human Rights Benchmark?
- US Q4 in brief – Finish Line, Oxford Industries
- Li & Fung forms supply chain partnership with PVH
- Sears has "substantial doubt" of future
- Vietnam limits hazardous chemicals in apparel
- World Bank commits $57bn to sub-Saharan Africa
- Central and East Europe Report Package
- Central America strategic sourcing review - a focus on Guatemala, El Salvador and Honduras
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- When Things Go Wrong - A Practical Guide to Managing Common Problems in Apparel Sourcing
- Outdoor performance apparel 2016: A broader perspective