NEW YORK, NY / ACCESSWIRE / September 19, 2019 / Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of L Brands, Inc. (NYSE:LB) from May 31, 2018 through November 19, 2018, inclusive (the "Class Period"). The lawsuit seeks to recover damages for L Brands investors under the federal securities laws.
To express an interest in the L Brands class action, go to http://pawarlawgroup.com/cases/l-brands-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email [email protected] for information on the class action.
According to the lawsuit, defendants throughout the Class Period 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 L Brands' 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; (7) as a result, defendants' statements about L Brands' business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than September 23, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://pawarlawgroup.com/cases/l-brands-inc/ or to discuss your rights or interests regarding this class action, please contact Vik Pawar, Esq. of Pawar Law Group toll free at 888-589-9804 or via e-mail at [email protected].
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff. Attorney advertising.
Pawar Law Group represents investors from around the world.
Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1210
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
[email protected]
SOURCE: Pawar Law Group