Kirby McInerney LLP announced today that it has been retained by an
investor in JCPenney Company, Inc. (“JCPenney” or the “Company”) (NYSE:
JCP) to investigate possible claims against the Company for securities
law violations on behalf of all persons or entities who purchased
JCPenney common stock during the period from August 20, 2013 through
September 26, 2013.
On an August 20, 2013 investor conference call, JCPenney’s CFO stated
that the Company expected $1.5 billion in liquidity at year-end.
However, on September 26, 2013, JCPenney announced a public offering of
84 million shares of its common stock, and the next day, the Company
priced the offering at $9.65 per share. On this news, JCPenney stock
declined from $10.42 to $9.05, a 13% decline. Since that time, the stock
has continued to decline.
Certain JCPenney investors have charged that the statements by the
Company and/or certain of its officers during the above-referenced
period violated the federal securities laws and caused injury to
investors. If you acquired JCPenney common stock during this period and
you are interested in learning more about this matter and any rights you
might have with respect to these claims, contact Jess Kelley at jkelley@kmllp.com,
by telephone at (212) 371-6600, or by filling
out this form. Please bear in mind that some of these rights may be
time-sensitive.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, whistleblower, antitrust and consumer
litigation. The firm has specialized in complex litigation, including
securities class actions, for several decades. Kirby McInerney LLP has
repeatedly demonstrated its expertise in this field, and has been
recognized by various courts that have appointed the firm to major
positions in consolidated and multi-district litigation. The firm’s
efforts on behalf of shareholders in securities litigation have resulted
in recoveries totaling billions of dollars, and the firm’s achievements
and quality of service have been chronicled in numerous published
decisions. Additional information about the firm or the claims against
JCPenney can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.
Copyright Business Wire 2013