CASES
Limited Brands, Inc.
Class Period: Aug 22, 2007 to Feb 28, 2008
Lead Plaintiff Deadline: Jan 5, 2010 + Deadline passed
Summary of Case:
A securities class action has been filed against Limited Brands, Inc. (LTD) ("Limited Brands" or the "Company") on behalf of all securities purchasers from August 22, 2007 through February 28, 2008, inclusive ("Class Period"), in the United States District Court for the Southern District of Ohio.
The complaint alleges that throughout the Class Period, defendants made numerous positive statements regarding Limited Brands's financial condition, business and prospects. These statements were materially false and misleading when made because defendants failed to disclose adverse events surrounding the development of a new warehouse and certain technology.
On February 27, 2008, Limited Brands issued a press release reporting fourth quarter and full year 2007 earnings. This press release significantly lowered the Company's previously issued guidance for 2008. In response to the announcement, the price of Limited Brands common stock fell from $17.82 on February 27, 2008 to $15.85 on February 28, 2008 on heavy trading volume.
If you purchased this company's shares during the Class Period and suffered a loss or for further information about the case, please review the links below.