Levi & Korsinsky announces that a class action lawsuit has been
commenced in the United States District Court for the Eastern District
of Pennsylvania on behalf of investors who purchased Urban Outfitters,
Inc. (“Urban Outfitters” or the “Company”) (Nasdaq: URBN) stock between
March 12, 2013 and September 9, 2013.
For more information, click here: http://zlk.9nl.com/urban-outfitters-urbn/.
The Complaint alleges that throughout the Class Period defendants made
false and misleading statements and/or failed to disclose the following:
a) Urban Outfitters’ comparable sales growth had significantly declined,
particularly in its all-important Urban Outfitters group; (b) as a
result of declining sales, Urban Outfitters was forced to offer an
additional 30% off all clearance items during Labor Day weekend 2013,
something it had not been forced to do during the prior year Labor Day
weekend; and (c) as a result of the foregoing, the Company was not on
track to achieve the financial results defendants had led the market to
expect during the Class Period.
On September 9, 2013, the Company disclosed lower than expected second
quarter 2014 financial results and issued disappointing third guarter
guidance. Upon this news, shares of Urban Outfitters fell from a close
of $42.71 per share to a close of $38.35 per share on September 10, 2013.
If you suffered a loss in Urban Outfitters you have until December 10,
2013 to request that the Court appoint you as lead plaintiff. Your
ability to share in any recovery doesn’t require that you serve as a
lead plaintiff. To obtain additional information, contact Joseph E.
Levi, Esq. either via email at jlevi@zlk.com
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/urban-outfitters-urbn/.
Levi & Korsinsky is a national firm with offices in New York, New
Jersey, Connecticut, and Washington D.C. The firm has extensive
expertise in prosecuting securities litigation involving financial
fraud, representing investors throughout the nation in securities and
shareholder lawsuits. Attorney advertising. Prior results do not
guarantee similar outcomes.
Copyright Business Wire 2013