BERWYN, Pa., Oct. 30, 2017 /PRNewswire/ -- RM LAW, P.C. announces that a class action lawsuit has been filed
on behalf of all persons or entities that purchased J.Jill, Inc. (NYSE: JILL) ("J.Jill" or the "Company") securities in or
traceable to the Company's March 9, 2017 initial public offering (the "IPO") (the "Class
Period").
J.Jill shareholders may, no later than December 12, 2017, move the Court for appointment as a
lead plaintiff of the Class. If you purchased shares of J.Jill and would like to learn more about these claims or if you
wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
The complaint charges J.Jill, certain of its officers and directors, certain of the underwriters of the IPO and J.Jill's
controlling shareholder with violations of the Securities Act of 1933. J.Jill is a specialty apparel brand focused on affluent
women in the 40 to 65 age segment.
On or about February 10, 2017, the Company filed with the SEC a registration statement on Form
S-1 for the IPO, which was subsequently amended and declared effective on March 8, 2017 (the
"Registration Statement"). On March 9, 2017, the Registration Statement was used to sell
approximately 12.5 million shares of J.Jill common stock to the investing public at $13 per
share.
According to the complaint, the Registration Statement communicated that the Company's unique business strategy had insulated
it from adverse industry trends and, as a result, J.Jill would be able to continue to grow its gross profits. The complaint
asserts that the statements in the Registration Statement were false and misleading when made because the Company's purportedly
unique and superior sales and marketing approach had not insulated the Company from adverse trends affecting the overall retail
industry. Moreover, the Company was carrying increasing amounts of slow moving inventory and would need to significantly markdown
sale items and increase promotional efforts in an attempt to continue its sales growth, and the Company's brick-and-mortar stores
were experiencing difficulty attracting customers and maintaining profitability, which would result in the Company shuttering up
to eight stores in fiscal 2017 – thereby diminishing the Company's gross margins and impairing its ability to service its
long-term debt. On October 12, 2017, J.Jill common stock closed at $4.86 per share, or more than 62% below its offering price only seven months after the IPO.
If you are a member of the class, you may, no later than December 12, 2017, request that the
Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other
class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class
member's claim is typical of the claims of other class members, and that the class member will adequately represent the class.
Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share
in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM
LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.
For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas,
Esquire) toll-free at (844) 291-9299 or by email at rm@maniskas.com or click here. For more information about class action cases in general or to learn more about RM LAW, P.C.
please visit our website by clicking here.
RM LAW, P.C. is a national shareholder litigation firm. RM LAW, P.C. is devoted to protecting the interests of
individual and institutional investors in shareholder actions in state and federal courts nationwide.
CONTACT:
RM LAW, P.C.
Richard A. Maniskas, Esquire
1055 Westlakes Dr., Ste. 3112
Berwyn, PA 19312
484-324-6800
844-291-9299
rm@maniskas.com
View original content with multimedia:http://www.prnewswire.com/news-releases/rm-law-announces-class-action-lawsuit-against-jjill-inc-300545789.html
SOURCE RM LAW, P.C.