Faruqi & Faruqi, LLP is investigating the claims on behalf of Capri Holdings investor Investing.com
Faruqi & Faruqi, LLP securities litigation partner James (Josh) Wilson He encourages investors who have suffered losses in excess of $100,000 in Capri to contact him directly to discuss their options
If you have suffered losses greater than $100,000 in Capri between August 10, 2023 and October 24, 2024 and want to discuss your legal rights, call a Faruqi & Faruqi partner Josh Wilson direct on 877-247-4292 or 212-983-9330 (ext. 1310).
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New York, New York–(Newsfile Corp. – January 11, 2025) – Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Capri Holdings (NYSE:) Limited (“Capri” or ” Company”) (NYSE: CPRI) and reminds investors to The deadline is February 21, 2025 to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company.
Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The company has recovered hundreds of millions of dollars for investors since its inception in 1995. See www.faruqilaw.com.
As set forth below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose the following: (i) the market for accessible luxury handbags is a separate and well-defined market within the entire handbag market and understood as such by the individual defendants as well as other executives of Capri and Tapestry (NYSE:); (ii) Capri and Tapestry maintained analogous manufacturing facilities and supply chains for their affordable luxury handbags that differed from the manufacturing facilities and supply chains used to produce luxury or mass market handbags, confirming that the market for affordable luxury handbags is different from mass market and luxury handbag market; (iii) Capri and tapestry considered internally Coach and Michael Kors that they are each other’s closest and most direct competitors; (iv) that, in contrast, Capri and Tapestry did not internally consider their handbag brands to be in direct competition with luxury handbags or mass market handbags; (v) the primary internal reason for acquiring Capri was to consolidate the dominant brands within the available luxury handbag market to reduce competition, increase prices, improve profit margins and reduce consumer choice within that market; and (vi) as a result of the foregoing, the risk of adverse regulatory action and/or blocking of the Capri acquisition was materially greater than represented by Defendants.
Capri’s class-action lawsuit further states that after a seven-day hearing, on October 24, 2024, Judge Jennifer L. Rochon of the US District Court for the Southern District of New York granted the US Federal Trade Commission’s request for a preliminary injunction against the Capri acquisition. In doing so, the court found, among other things, that “a large body of convincing evidence” showed that, contrary to their public statements, the defendants themselves believed that their brands were direct competitors in the well-defined “affordable luxury handbag market.” .”
On this news, the share price of Capri fell by almost 50%.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of the class members who directs and oversees the litigation on behalf of the putative class. Any putative class member may propose to the Court to serve as lead plaintiff through counsel of his or her choosing, or may choose to do nothing and remain an absent class member. Your ability to participate in any recovery is not affected by the decision whether or not you will be the lead plaintiff.
Faruqi & Faruqi, LLP also encourages anyone with information about Capri’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Advertising of lawyers. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Past results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your specific case. All communications will be treated confidentially.
To view the original version of this press release, visit https://www.newsfilecorp.com/release/236724
