STEVENSON, Md., Nov. 12, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Francesca's Holdings Corporation ("Francesca's" or the "Company") (Nasdaq:FRAN) securities during the period between January 10, 2012 and September 3, 2013, inclusive (the "Class Period") and on behalf of purchasers of Francesca's common stock pursuant to and/or traceable to one of the Company's Secondary Public Offerings (collectively, the "Offerings") on January 26, 2012, April 17, 2012, or March 27, 2013.
If you have suffered a net loss from investment in Francesca's Holdings Corporation common stock purchased during one of the Offerings, or from investment in Francesca's Holdings Corporation securities purchased on or after January 10, 2012, and held through the revelation of negative information on September 4, 2013, as described below, at no cost to you, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than November 26, 2013 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that unseasonably poor weather and the competitive back-to-school retail environment had a negative impact on same-store sales growth, that sales terms and margins with suppliers would negatively impact the Company's ability to maintain above-average profit margins, and that the Company increased sales through new store openings and that, to meet its financial targets, engaged in steep discount promotional selling during its first quarter 2013 that increased during its second quarter 2013. According to the complaint, following the Company's September 4, 2013 disclosure that its second quarter 2013 financial results were below expectations, the value of Francesca's shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
Stevenson, Maryland
410/415-6616
hoffman@browerpiven.com
