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Case Status:    ONGOING    
On or around 12/18/2019 (Date of last review)

Filing Date: September 17, 2019

According to the Complaint, Ollie’s is an extreme value retailer that offers brand name merchandise at
dramatically reduced prices.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company suffered a supply chain issue that impacted the initial inventory available at new stores; (2) that, as a result, the Company lacked sufficient inventory to meet demand at certain store locations; (3) that, as a result, the Company’s comparable store sales were likely to decrease quarter-over-quarter; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

On December 5, 2019, the Court issued an Order appointing Lead Plaintiffs and Counsel.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Department & Discount)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OLLI
Company Market: NASDAQ
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: S.D. New York
DOCKET #: 19-CV-08647
JUDGE: Hon. J. Paul Oetken
DATE FILED: 09/17/2019
CLASS PERIOD START: 06/06/2019
CLASS PERIOD END: 08/28/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Prongay & Murray LLP (NY)
  2. Kirby McInerney LLP
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available