An investigation on behalf of current long term investors in L Brands, Inc. (NYSE: LB) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 12/11/2019 -- Certain directors of L Brands, Inc. are under investigation concerning potential breaches of fiduciary duties.
Investors who are current long term investors in L Brands, Inc. (NYSE: LB) shares, have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm for investors in NYSE: LB stocks follows a lawsuit filed against L Brands, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: LB stocks, concerns whether certain L Brands directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the L Brands' Victoria's Secret and PINK businesses began to experience deteriorating operating performance due to, among other things, increased competition from new lingerie brands, that in an attempt to drive sales and retain market share in the face of increasing competition, Victoria's Secret and PINK engaged in heavy promotional activities by offering consumers large discounts and even giving items free of charge, that while this marketing strategy helped to mitigate sales declines, it adversely impacted the Company's profit margins and cash flows and had a deleterious impact on the Company's liquidity, and that in response to questions from securities analysts about the sustainability of the Company's dividends, defendants repeatedly stated that L Brands had sufficient cash flow and cash on hand to sustain its dividends and that the Company, "in its history, ha[d] never reduced the dividend."
Those who purchased shares of L Brands, Inc. (NYSE: LB) 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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