Liz Claiborne, Inc. - Securities Class Action

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Liz Claiborne, Inc. Summary: According to a press release dated May 1, 2009, the Complaint alleges that throughout the Class Period defendants knew or recklessly disregarded that their public statements concerning Liz Claiborne's business, operations and prospects were materially false and misleading. Specifically, the Complaint alleges that defendants' public statements were false and misleading or failed to disclose or indicate, among other things, the following: (1) that the Company's wholesalers were significantly reducing orders; (2) that, specifically, Macy's, Liz Claiborne's largest customer, slashed orders in response to Liz Claiborne's decision to partner with JCPenney and launch the Liz & Co. and CONCEPTS by Claiborne brands at JCPenney; (3) that this fact had been known to the Company and management as early as November 22, 2006; and (4), as a result of the foregoing, that the statements made by the Company and management lacked a reasonable basis.

On May 1, 2007, Liz Claiborne shocked the market when the Company reported an approximately 65 percent drop in earnings, forecasted an unexpected decline in annual profit, and disclosed massive cutbacks in orders from Macy's. Moreover, the Company revealed that Macy's reduced orders were a reaction to the new Liz & Co. and CONCEPTS by Claiborne brands launched at JCPenney. On this news, shares of Liz Claiborne declined $7.72 per share, more than 17%, to close on May 1, 2007 at $37.00 per share, on unusually heavy trading volume.

On February 17, 2010, Judge Richard J. Holwell granted the motion to appoint Movant James S. Metz as lead plaintiff. The law firm Glancy Binkow & Goldberg LLP was approved as lead counsel. On April 29, 2010, the lead plaintiff filed an Amended Complaint, and amended the complaint again on August 23, 2010. The defendants responded by filing a motion to dismiss on October 4, 2010.

According to a news article dated September 29, 2011, a New York federal judge on Thursday tossed a putative shareholder class action accusing Liz Claiborne Inc. of misrepresenting its relationship with Macy's Inc. and J.C. Penney Co., saying the plaintiffs had offered no evidence showing that Claiborne executives intended to mislead the public.

INDUSTRY CLASSIFICATION:
SIC Code: 0000
Sector: Consumer Cyclical
Industry: Apparel/Accessories

COMPANY/ISSUER NAME:	Liz Claiborne, Inc.
COMPANY/ISSUER TICKER:	LIZ
COMPANY WEBSITE:	http://www.lizclaiborne.com/

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Angela Tyler, et al. v. Liz Claiborne, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 09-CV-04147
JUDGE NAME: Hon. Shirley Wohl Kram
DATE FILED: 04/28/2009	SOURCE:
CLASS PERIOD START: 02/28/2007	CLASS PERIOD END: 04/30/2007
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Binkow & Goldberg LLP (Los Angeles) 1801 Ave. of the Stars, Suite 311, Los Angeles, CA, 90067 (voice) 310.201.915, (fax) 310. 201-916, info@glancylaw.com Law Offices of Howard G. Smith 3070 Bristol Pike, Suite 112, Bensalem, PA, 19020 (voice) 215.638.4847, (fax) 215.638.4867, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 04/28/2009
Order
Type: Order Appointing LP/LC		Date on the document: 02/17/2010

REFERENCE COMPLAINT

Angela Tyler, et al. v. Liz Claiborne, Inc., et al.

COURT: S.D. New York	DOCKET NUMBER: 09-CV-04147
JUDGE NAME:
DATE FILED: 08/23/2010	SOURCE:
CLASS PERIOD START: 01/16/2007	CLASS PERIOD END: 04/30/2007
TYPE OF COMPLAINT: Second Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Binkow & Goldberg LLP (Los Angeles) 1801 Ave. of the Stars, Suite 311, Los Angeles, CA, 90067 (voice) 310.201.915, (fax) 310. 201-916, info@glancylaw.com Glancy Binkow & Goldberg LLP (NY) 1430 Broadway, Suite 1603, New York, NY, 10018 (voice) 212.382.2221, (fax) 212.382.2221, info@glancylaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
Amended Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 04/19/2010
Second Amended Complaint For Violations Of The Federal Securities Laws
Type: Complaint		Date on the document: 08/23/2010
Memorandum Opinion and Order
Type: Order		Date on the document: 09/29/2011
Judgment
Type: Other		Date on the document: 09/30/2011
U.S. District Court Civil Docket
Type: Docket		Date on the document: 09/30/2011

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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