Urban Outfitters, Inc NASDAQ:URBN Securities Lawsuit

- by

Company: Urban Outfitters, Inc
Ticker Symbol: NASDAQ:URBN
Class Period: Mar-12-13 to Sep-9-13
Date Filed: Aug-7-15
Lead Plaintiff Deadline: Oct-6-15
Court: Eastern District of Pennsylvania
Wilmington, Del: A securities fraud class action lawsuit has been filed on behalf of investors of Urban Outfitters, Inc. (NASDAQ:URBN) ("Urban Outfitters"or the "Company") in the U.S. District Court, Eastern District of Pennsylvania, for possible corporate misconduct and violations of securities laws. No class has yet been certified.

According to the lawsuit, between March 12, 2013 and September 9, 2013, members of Urban Outfitters' senior management engaged in a fraudulent scheme to artificially inflate the Company' stock price by misrepresenting and concealing information regarding failed product assortments and resulting deceleration in sales growth during the first half of fiscal year 2014, leading up to and including Urban Outfitters' crucial back-to-school season.

On September 9, 2013, after the market had closed, Urban Outfitters filed its quarterly report on Form 10-Q where it disclosed for the first time that the Company' sales growth had fallen. After the Company disclosed this news, stock analysts were stunned and the Company' stock price fell more than 10% closing at $38.35 per share on September 10, 2013. As a result of this fraud, shareholders suffered millions in losses.

As a result of the foregoing news, on October 11, 2013, an Urban Outfitters shareholder represented by another law firm filed a class action complaint against Urban Outfitters for securities fraud. The complaint was filed in the United States District Court, Eastern District of Pennsylvania, Case No. 2:13-cv-05978.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Urban Outfitters, Inc NASDAQ:URBN Securities Fraud Legal Help

If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible Urban Outfitters, Inc securities class action lawsuit. Please click the link below to submit your complaint for a free evaluation.

Maybe it's your stockbroker

Add Your Comment on This Issue

Fields marked * are mandatory. Please read our comment guidelines before posting.


Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.

*Your Comment:
Request Legal Help