SOURCE: Shareholders Foundation
SAN DIEGO, CA--(Marketwired - Oct 14, 2013) - The Shareholders Foundation, Inc. announces that a lawsuit was filed by an investor in shares of Francesca's Holdings Corp (FRAN) over alleged securities laws violations by Francesca's Holdings Corp.
If you purchased shares of Francesca's Holdings Corp (FRAN) you have certain options and you should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants between March 20, 2013 and September 3, 2013 failed to disclose that, among other things, that Francesca's Holdings Corp had been forced to engage in promotional selling at significant discounts during its first quarter 2013 in order to meet its financial targets, that Francesca's concealed the impact sales terms and margins with its suppliers would have on its ability to maintain above-average profit margins, and that as a result, Francesca's Holdings Corp was not on track to achieve the financial results defendants had led the market to expect between March 20, 2013 and September 3, 2013.
The plaintiff claims that as a result of defendants' false and misleading statements between March 20, 2013 and September 3, 2013, certain company insiders were able to sell hundreds of millions of dollars of Francesca's stock at artificially inflated prices.
On September 4, 2013, Francesca's Holdings Corp reported its second quarter 2013 financial results.
Shares of Francesca's Holdings Corp declined from over $31 in May 2013 to $16.68 per share on October 11, 2013.
The plaintiff seeks to recover damages on behalf of all purchasers of Francesca's common stock between March 20, 2013 and September 3, 2013.
Those who purchased shares of Francesca's Holdings Corp have certain options and should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.