WEST HARTFORD, CT -- (Marketwire) -- 10/12/09 -- The law firm of Izard Nobel LLP, which
has significant experience representing investors in prosecuting claims of
securities fraud, announces that a lawsuit seeking class action status has
been filed in the United States District Court for the Southern District of
Texas on behalf of those who purchased the common stock of Men's Wearhouse
Inc. ("Men's Wearhouse" or the "Company") (NYSE: MW) between March 7, 2007
and January 9, 2008, inclusive (the "Class Period").
The Complaint charges that Men's Wearhouse and certain of its officers and
directors violated federal securities laws by issuing materially false
statements regarding the Company's financial condition. Specifically, the
Complaint alleges that defendants failed to disclose the following adverse
facts: (i) that the K&G division was performing poorly and not meeting
internal expectations; (ii) that Men's Wearhouse was experiencing
significant difficulties integrating the After Hours acquisition which was
causing a severe disruption in that division's business and reducing sales
volumes below budgeted levels; and (iii) that, given the deteriorating
demand for the Company's products, the Company was forced to significantly
discount products which would further erode earnings.
On January 9, 2008, Men's Wearhouse announced its mid fourth quarter update
for the quarter ending February 2, 2008. In response to the Company's
reduced guidance for fiscal 2007, Men's Wearhouse common stock fell $7.60
per share to close at $17.84 per share, on January 10, 2008.
If you are a member of the class, you may, no later than December 7, 2009,
request that the Court appoint you as lead plaintiff of the class. A lead
plaintiff is a class member that acts on behalf of other class members in
directing the litigation. Although your ability to share in any recovery
is not affected by the decision whether or not to seek appointment as a
lead plaintiff, lead plaintiffs make important decisions which could affect
the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to
view a copy of the Complaint initiating the class action or for more
information about the case, and your rights, visit:
www.izardnobel.com/menswearhouse/, or contact Izard Nobel LLP toll-free:
(800) 797-5499, or by e-mail: firm@izardnobel.com. For more information
about class action cases in general, please visit our website:
www.izardnobel.com.
