An investigation on behalf of current long term investors in Ascena Retail Group, Inc. (NASDAQ: ASNA) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/23/2019 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Ascena Retail Group, Inc.
Investors who are current long term investors in Ascena Retail Group, Inc. (NASDAQ: ASNA) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NASDAQ: ASNA stocks follows a lawsuit filed against Ascena Retail Group over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: ASNA stocks, concerns whether certain Ascena Retail Group, directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the defendants failed to disclose that the Ann Acquisition was a complete disaster for the Company as Ann's operations were in far worse condition than had been represented to the public; that, in order to mask the true condition of Ann, defendants improperly delayed recognizing an impairment charge to the value of Ann's goodwill and, as a result, Ascena's reported income and assets were materially overstated and the Company's financial results were not prepared in conformity with Generally Accepted Accounting Principles ("GAAP"); and that many of the brands acquired in the Ann Acquisition were in steep decline and were also materially overvalued on Ascena's financial statements between September 16, 2015 and June 8, 2017.
Those who purchased shares of Ascena Retail Group, Inc. (NASDAQ: ASNA) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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