A lawsuit was filed on behalf of investors in Canada Goose Holdings Inc. (NYSE: GOOS) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/18/2019 -- An investor, who purchased shares of Canada Goose Holdings Inc. (NYSE: GOOS), filed a lawsuit over alleged violations of Federal Securities Laws by Canada Goose Holdings Inc.
Investors who purchased shares of Canada Goose Holdings Inc. (NYSE: GOOS) have certain options and for certain investors are short and strict deadlines running. Deadline: November 4, 2019. NYSE: GOOS investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On November 2, 2017, the non-profit organization People for the Ethical Treatment of Animals ("PETA") issued an announcement alleging that Canada Goose Holdings Inc suppliers used unethical measures to obtain the down and fur used in creating the Company's clothing merchandise (). The PETA announcement also stated that PETA had issued a complaint to the FTC regarding these practices because the Company represented in communications and promotional materials that its clothing was produced with down and fur from sources that treated the animals used in sourcing those materials ethically and humanely.
Shares of Canada Goose Holdings Inc. (NYSE: GOOS) declined $0.70 per share to close at $20.72 per share on November 2, 2017.
Then, on June 17, 2019, the United States Federal Trade Commission ("FTC") issued a closing letter to Canada Goose Holdings Inc's legal counsel. The FTC Closing Letter stated that the FTC had investigated Canada Goose's advertising practices for possible violations of the Federal Trade Commission Act ("FTC Act"), citing "concern[s] that Canada Goose may have made false or misleading representations about the treatment of geese whose down is used in Canada Goose's apparel." The FTC further stated that it had not recommended enforcement action against Canada Goose because the Company had "remov[ed] the advertising claims at issue from the marketplace and clarify[ied] its business practices in marketing materials." However, the FTC expressly stated that "[t]his action is not to be construed as a determination that a violation of law did not occur" and "reserve[d] the right to take further action as the public interest may warrant." (Emphasis added.)
Shares of Canada Goose Holdings Inc. (NYSE: GOOS) declined $0.50 per share, or 1.36%, to close at $36.17 per share on June 17, 2019.
The plaintiff claims that between March 16, 2017 and August 1, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that Canada Goose Holdings Inc sourced the down and fur used in its clothing products in a way that treated animals in an unethical and inhumane manner, that Canada Goose Holdings Inc was thus non-compliant with relevant FTC regulations pertaining to false advertising with respect to its sourcing practices, that accordingly, Canada Goose Holdings Inc was the subject of an ongoing FTC investigation regarding false advertising, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Canada Goose Holdings Inc. (NYSE: GOOS) 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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