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Limited Brands, Inc. Summary: According to a press release dated November 06, 2009, the complaint charges Limited Brands and certain of its officers and directors with violations of the Exchange Act. Limited Brands is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories under various trade names, including Victoria’s Secret. The Company sells merchandise through retail stores, which are primarily mall-based, in the United States and Canada, and through websites and catalogues.
The complaint alleges that, throughout the Class Period, defendants made numerous positive statements regarding the Company’s financial condition, business and prospects. The complaint further alleges that 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.
INDUSTRY CLASSIFICATION:
SIC Code: 5621
Sector: Services
Industry: Retail (Apparel)
| COMPANY/ISSUER NAME: | Limited Brands, Inc. |
| COMPANY/ISSUER TICKER: | LTD |
| COMPANY WEBSITE: | http://www.limitedbrands.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| International Brotherhood of Electrical Workers Local 697 Pension Fund , et al. v. Limited Brands, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Class Action Complaint For Violation Of The Federal Securities Laws | |||
| Type: Complaint | Date on the document: 11/06/2009 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
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