A class action has been filed in the United States District Court for the Southern District of Ohio on behalf of purchasers of Limited Brands, Inc. (NYSE: LTD) common stock during the period of August 22, 2007 through February 28, 2008, inclusive (the “Class Period”), for violations of the Securities Exchange Act of 1934 (the “Exchange Act”). The complaint charges Limited Brands and certain of its officers and directors with violations of the Exchange Act. Limited Brands is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories under various trade names, including Victoria’s Secret. The Company sells merchandise through retail stores, which are primarily mall-based, in the United States and Canada, and through websites and catalogues.
The complaint alleges that, throughout the Class Period, defendants made numerous positive statements regarding the Company’s financial condition, business and prospects. The complaint further alleges that these statements were materially false and misleading when made because defendants failed to disclose adverse events surrounding the development of a new warehouse and certain technology.
On February 27, 2008, Limited Brands issued a press release reporting fourth quarter and full year 2007 earnings. This press release significantly lowered the Company’s previously issued guidance for 2008. In response to the announcement, the price of Limited Brands common stock fell from $17.82 on February 27, 2008 to $15.85 on February 28, 2008 on heavy trading volume.
If you are a current shareholder and purchased during period between August 22, 2007 through February 28, 2008 and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.