Gilman Law LLP, a leading national securities law firm, is now accepting claims for lawsuits on behalf of Aeropostale, Inc. shareholders. The firm is actively investigating shareholder claims that Aeropostale, a mall-based specialty retailer of casual apparel and accessories, and certain of its officers and directors violated federal securities laws by issuing materially false statements regarding the Company’s business and prospects. The firm is currently offering free legal evaluations to all Aeropostale investors nationwide.
For over 30 years, Gilman Law has represented investors in all major aspects of securities fraud litigation, including stock manipulation, securities fraud, and shareholder rights violations. If you purchased or otherwise acquired shares of Aeropostale, Inc. during the period between February 3, 2011 and August 3, 2011, and either lost money on the transaction or still hold the shares, you must contact Gilman Law LLP no later than December 12, 2011 in order to exercise your legal rights against Aeropostale.
Aeropostale, Inc. Class Action Lawsuit Allegations
Aeropostale and certain of its officers and directors have been named in a class action filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Aeropostale, Inc. between February 3, 2011 and August 3, 2011. The complaint alleges that the Defendants’ positive statements about the Company failed to disclose that:
Aeropostale was experiencing declining demand for its women’s fashion division, which makes up 70% of the Company’s sales;
Aeropostale was enduring pressure on its profit margins as a result of increasing inventory and higher discounts on its clothing;
As a result, Defendants lacked a reasonable basis for their positive statements about the Company.
On August 4, 2011, Aeropostale announced net earnings for the second quarter of 2011 that fell well below the Company’s guidance of $0.11 to $0.16 per share. Upon this news, shares of Aeropostale stock fell more than 20% to close at $12.53 per share.
The Aeropostale shareholder lawsuit alleges that the Defendants repeatedly assured investors on numerous occasions that the Company was well positioned to meet their financial goals for 2011. Aeropostale’s misleading sales projections in combination with its failure to disclose negative business trends and decreased consumer demand caused artificially inflated share prices during the Class Period.
Legal Help for Aeropostale Inc. Shareholders
Gilman Law has extensive experience representing both individual and institutional investors in securities class action suits, and has recovered over a billion dollars for its clients. We are ready to assist investors who have sustained losses as a result of Aeropostale’s fraudulent practices. For a free evaluation of your case or to obtain additional information, please fill out the form on the left or CALL TOLL FREE (888) 252-0048.
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