Case Page

 

Case Status:    ONGOING    
On or around 10/13/2017 (Ongoing date of last review)

Filing Date: October 13, 2017

On or about February 10, 2017, the Company filed with the SEC a registration statement on Form S-1 for the IPO, which was subsequently amended and declared effective on March 8, 2017 (the "Registration Statement"). On March 9, 2017, the Registration Statement was used to sell approximately 12.5 million shares of J.Jill common stock to the investing public at $13 per share.

According to the law firm press release, the Registration Statement communicated that the Company's unique business strategy had insulated it from adverse industry trends and, as a result, J.Jill would be able to continue to grow its gross profits. The complaint asserts that the statements in the Registration Statement were false and misleading when made because the Company's purportedly unique and superior sales and marketing approach had not insulated the Company from adverse trends affecting the overall retail industry. Moreover, the Company was carrying increasing amounts of slow moving inventory and would need to significantly markdown sale items and increase promotional efforts in an attempt to continue its sales growth, and the Company's brick-and-mortar stores were experiencing difficulty attracting customers and maintaining profitability, which would result in the Company shuttering up to eight stores in fiscal 2017 – thereby diminishing the Company's gross margins and impairing its ability to service its long-term debt. On October 12, 2017, J.Jill common stock closed at $4.86 per share, or more than 62% below its offering price only seven months after the IPO.

Plaintiff seeks to recover damages on behalf of all purchasers of J.Jill common stock in or traceable to the Company's March 9, 2017 IPO (the "Class").

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Apparel/Accessories
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: JILL
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. Massachusetts
DOCKET #: 17-CV-11980
JUDGE: Hon. Leo T. Sorokin
DATE FILED: 10/13/2017
CLASS PERIOD START: 03/09/2017
CLASS PERIOD END: 10/13/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Hutchings, Barsamian, Mandelcorn & Zeytoonian, LLP

    ·
  2. Johnson Fistel, LLP
    600 West Broadway, Suite 1540, Johnson Fistel, LLP, CA 92101
    619.230.0063 619.230.0063 ·
  3. Johnson Fistel, LLP (Marietta)
    40 Powder Springs Street, Johnson Fistel, LLP (Marietta), GA 30064
    770.200.3104 770.200.3104 ·
  4. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  5. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date