An investigation on behalf of current long term investors in Tailored Brands Inc (NYSE:TLRD) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NYSE:TLRD stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 05/25/2018 -- An investigation on behalf of current long-term investors in shares of Tailored Brands Inc (NYSE:TLRD) concerning potential breaches of fiduciary duties by certain directors and officers of Tailored Brands Inc was announced.
Investors who are current long term investors in Tailored Brands Inc (NYSE:TLRD) 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 current long term investors in Tailored Brands Inc (NYSE:TLRD stocks follows a lawsuit filed in 2016 against Tailored Brands Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE:TLRD stocks, concerns whether certain Tailored Brands Inc directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the Southern District of Texas the plaintiff alleges that the defendants violated Federal Securities Laws. On June 18, 2014, Tailored Brands Inc (at the time known by its former name, The Men's Wearhouse, Inc) announced the completion of its acquisition of Jos. A. Bank Clothiers, Inc. for $65.00 per share. Doug Ewert, President and Chief Executive Officer of Tailored Brands (at the time known by its former name, The Men's Wearhouse, Inc.), touted the synergies and benefits of the acquisition and called the combined entity "a truly great company for all of our stakeholders." On that day, shares of the Company closed at $55.86 per share.
On November 5, 2015 post market, the Company released its initial third quarter results with an updated fiscal year 2015 outlook. Shareholders were told that there "were significant comparable sales weakness at Jos. A. Bank. During the third quarter comparable sales decreased 14.6% at Jos. A. Bank, far below the Company's earlier expectations. This decrease was primarily driven by a decline in traffic as the Company began the transition away from the Buy-One-Get-Three promotional events."
The Company's fourth quarter, which should have been busier during Holiday season, expected sales at Jos. A. Bank to be down between 20 – 25% compared to the prior year's fourth quarter.
On December 9, 2015, post market, the Company released its third quarter earnings, which were even more disappointing than its previously expectations. Furthermore, Jos. A. Bank same-store sales in the fourth quarter was down about 35%. Following this news, Tailored Brands, Inc. stock (known as The Men's Wearhouse, Inc. at the time), fell an additional $3.30 per share to close at $15.27.
On January 31, 2016, Tailored Brands Inc became the holding company of Men's Wearhouse.
Those who purchased shares of Tailored Brands Inc (NYSE:TLRD) have certain options and should contact the Shareholders Foundation.
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