According to the Complaint, L Brands, Inc. 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.