Glancy
Prongay & Murray LLP (“GPM”) announces that a class action
lawsuit has been filed on behalf of investors who purchased Tailored
Brands, Inc. (“Tailored Brands” or the “Company”) ( f/k/a The Men’s
Wearhouse, Inc.) (NYSE: TLRD)
concerning whether the Company misled investors regarding the success of
the acquisition by The Men’s Wearhouse, Inc. of Jos. A. Bank Clothiers,
Inc. Tailored Brands investors have until May 31, 2016 to
file a lead plaintiff motion.
Investors who have suffered losses on their Tailored Brands investments
are encouraged to contact Casey Sadler of GPM to discuss their legal
rights in this class action at 310-201-9150 or by email to shareholders@glancylaw.com.
On or around June 18, 2014, The Men’s Wearhouse, Inc. announced the
closing of its acquisition of Jos. A. Bank Clothiers, Inc. for
consideration of $65 per share in cash. The combined entity, one of the
largest suit and apparel retailers in the United States, was later
renamed Tailored Brands, Inc. President and CEO of Tailored Brands, Doug
Ewert, called the merged entity "a truly great Company for all our
stakeholders." However, the Company allegedly faced considerable
resistance to year over year revenue growth, in part fueled by
promotional practices that hurt revenues and profitability.
On November 5, 2015, Tailored Brands disclosed poor preliminary results
for the third quarter of 2015. Citing sales weakness at Jos. A Bank
stores, Tailored Brands informed investors that fourth quarter sales
were now expected to be down 20-25% from the same period in previous
year. On this news, shares of Tailored Brands fell 46%, to close at just
$22.70 on November 6, 2015.
Then on December 9, 2015, the Company disclosed third quarter earnings
that were worse than anticipated, and noted that fourth quarter sales at
Jos. A Bank were on pace to be 35% lower than the prior quarter. On this
news, shares of Tailored Brands stock fell nearly 18%, to close at
$15.27 on December 10, 2015.
GPM represents institutional and retail investors in securities class
actions throughout the country, and has recovered millions of dollars on
behalf of investors.
If you purchased shares of Tailored Brands during the Class Period you
may move the Court no later than May 31, 2016 to be
appointed lead plaintiff. To be a member of the Class you need not take
any action at this time; you may retain counsel of your choice or take
no action and remain an absent member of the Class. If you wish to learn
more about this action, or if you have any questions concerning this
announcement or your rights or interests with respect to these matters,
please contact Casey Sadler, Esquire, of GPM, 1925 Century Park East,
Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at http://glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
![](http://cts.businesswire.com/ct/CT?id=bwnews&sty=20160428006725r1&sid=ntxv4&distro=nx&lang=en)
View source version on businesswire.com: http://www.businesswire.com/news/home/20160428006725/en/
Copyright Business Wire 2016