BOSTON, MA / ACCESSWIRE / October 25, 2019 / A lawsuit has been filed against Ollie's Bargain Outlet Holdings, Inc. ("Ollie's" or the "Company") (NASDAQ:OLLI) alleging that Ollie's violated the federal securities laws. Investors who purchased Ollie's stock between June 6, 2019 and August 28, 2019, and are interested in participating in the lawsuit as a lead plaintiff, are encouraged to submit your information at www.tenlaw.com/cases/ollies. Investors may also email the firm to obtain information at [email protected] or call (617) 531-3917.
FOR MORE INFORMATION, VISIT: WWW.TENLAW.COM/CASES/OLLIES.
Ollie's is a value retailer that claims to offer brand name merchandise at dramatically reduced prices. The lawsuit alleges that Ollie's failed to disclose to investors that the Company suffered a supply chain issue that impacted the initial inventory available at new stores and that the Company lacked sufficient inventory to meet demand at certain store locations. As a result, it is alleged that Ollie's comparable store sales were likely to decrease quarter-over-quarter and and that Ollie's positive statements to investors about its business, operations, and prospects, were materially misleading and lacked a reasonable basis. On August 28, 2019, Ollie's allegedly disclosed the above issues, causing OLLI's stock to drop $21.41, over 27%, on August 29, 2019.
Investors who purchased OLLI securities between June 6, 2019 and August 28, 2019 are encouraged to contact the Thornton Law Firm's shareholder rights team by submitting your information at www.tenlaw.com/cases/ollies. Interested OLLI shareholders have until November 18, 2019 to apply to be lead plaintiff. The class has not yet been certified. Until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Thornton Law Firm's securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities laws. Its attorneys have established track records litigating securities cases in courts throughout the country and recovering losses on behalf of shareholders. This may be considered Attorney Advertising in some jurisdictions. Prior results do not guarantee or predict a similar outcome with respect to any future matter.
SOURCE: The Thornton Law Firm