On or around 10/16/2020 (Court's order of dismissal)
Filing Date: July 23, 2019
According to the Complaint, L Brands is a specialty retailer of women’s intimate apparel and personal care and beauty products.
The Complaint alleges that during the Class Period, Defendants made materially false and misleading statements and/or failed to disclose adverse information regarding L Brands’ business and prospects, which caused L Brands stock to trade at artificially inflated prices of more than $37 per share during the Class Period. Specifically, the Complaint alleges that, prior to and during the Class Period, L Brands’ Victoria’s Secret and PINK businesses began to experience deteriorating operating performance due to, among other things, increased competition from new lingerie brands.
On October 16, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on December 20. Defendants filed a Motion to Dismiss the consolidated amended Complaint on February 18, 2020. On October 16, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.
Company & Securities Information
Defendant: L Brands, Inc.
Sector: Consumer Cyclical
Headquarters: United States
Ticker Symbol: LB
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.