The Children’s Place, Inc.
Investors that purchased the Company’s securities and have suffered a loss, please fill in transaction information below, or email to info@portnoylaw.com.
There is no cost or obligation associated with submitting your information. If you are a shareholder who suffered a loss, please submit your contact information and purchase information to participate in the putative class action.
We also encourage you to contact Lesley F. Portnoy of The Portnoy Law Firm, at 310.692.8883, to discuss your rights free of charge. You can also reach us through the firm’s website at www.portnoylaw.com, or by email at info@portnoylaw.com.
If you choose to take no action, you can remain an absent class member.
Joining the case through the Portnoy Law website enables investors to learn about their legal claims and take an active role in recovering their losses.
The Portnoy Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
CONTACT:
Portnoy Law Firm
Lesley F. Portnoy, Esq.,
www.portnoylaw.com
Office: 310.692.8883
1800 Century Park East, Suite 600
Los Angeles, CA 90067
info@portnoylaw.com
On February 9, 2024, The Children’s Place disclosed preliminary financial results for Q4 of fiscal year 2023, indicating expected net sales below previous guidance and a projected adjusted operating loss due to aggressive promotions, higher split shipment costs, and increased inventory valuation adjustments. Following this news, the company’s stock price dropped by 37% on the same day. A class action lawsuit alleges that during the Class Period, The Children’s Place made false/misleading statements and failed to disclose: 1) the extent of its aggressive promotional tactics, 2) the overstatement of its inventory values, 3) the likely adverse impact on its fiscal 2023 financial results, and 4) as a result, the company’s positive statements about its business and prospects were materially misleading or lacked a reasonable basis.
