Kendall Law Group Announces Securities Class Action Against Men's Wearhouse Inc.
DALLAS, TX -- (Marketwire) -- 10/19/09 -- Kendall Law Group, led by a former federal
judge, today announced that a lawsuit has been filed against Men's
Wearhouse Inc. (NYSE: MW) for securities violations related to public
statements made by the company between March 7, 2007 and January 9, 2008.
The complaint, filed in the Southern District of Texas, charges Men's
Wearhouse and certain of its officers and directors with violations of the
federal securities laws concerning a series of false and misleading
statements concerning the financial condition of the company. Defendants
failed to disclose that the K&G division was performing poorly and not
meeting internal expectations. Also, difficulties in integrating the After
Hours acquisition was causing a severe disruption in the Company's business
and reducing sales volumes below budgeted levels. The deteriorating demand
for the Company's products was forcing discounts beyond customary discounts
further eroding earnings.
When the update for the quarter ending February 2, 2008 was announced on
January 9, 2009, the price of Men's Wearhouse common stock fell $7.60 per
share, closing at $17.84 on January 10, 2009 on extremely heavy trading
volume.
Any shareholder, who purchased Men's Wearhouse stock during the above time
period, may move the Court to serve as a plaintiff in this class action.
If you wish to serve as lead plaintiff, you must move the Court for
appointment by December 7, 2009. A lead plaintiff is a class member who
acts on behalf of other class members in directing the litigation. Your
ability to share in any recovery is not, affected by the decision to serve
as a lead plaintiff. Any member of the class may move the court to serve
as lead plaintiff through counsel of their choice, or may choose to do
nothing and remain an absent class member.
Led by a former federal judge and former U.S. Attorney, Kendall Law Group
has the credentials to pursue any type of complex securities litigation in
the nation. If you wish to learn more about your rights as a shareholder,
contact attorney Hamilton Lindley at 877-744-3728 or
hlindley@kendalllawgroup.com.