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Case ID: 5192 | Stocks | 09/23/2008
According to a press release dated September 19, 2008, the lawsuit was filed against Carter's and certain officers and directors ("Defendants"). the action seeks to pursue remedies under the Securities Exchange Act of 1934 (the "Exchange Act"). Specifically, the complaint alleges that Defendants issued materially false and misleading statements about their ability to turn the operations of acquired company Oshkosh B'Gosh around. On July 24, 2007, Carter's announced that it was taking a large write-down ($142.9 million) on the tangible assets/goodwill of its Oshkosh subsidiary. The Carters shares reacted negatively to the news, falling from $24.87 to $22.75 per share by the end of trading on July 25, 2007, representing an 8.5% decline in value.
At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest A class action has been filed in the Middle District Court of Florida against Anchor Glass Container Corporation (NASDAQ: AGCC) and certain of its officers and directors by stockholders who purchased the company's common stock between September 25, 2003 and November 4, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. Several class actions have been filed against premium bulk wine supplier Golden State Vintners, Inc. (Nasdaq:VINT), and certain of its officers and directors by stockholders who purchased the company's common stock between December 23, 2003, and April 23, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. A class action has been filed against H&R Block, Inc. (HRB), certain of its officers and directors by stockholders who purchased the company's common stock between January 31, 2005 and March 14, 2006. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. A class action has been filed against jewelry chain story operator Friedman's Inc. (NYSE: FRM) and certain of its officers and directors by stockholders who purchased the company's common stock between January 26, 2000 and November 11, 2003. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. According to a press release dated March 25, 2008, a group of investors sued Morgan Stanley on Tuesday over the brokerage's alleged deceptive marketing of auction-rate securities. A class action has been filed in the Southern District Court of California against Charlotte Russe Holding, Inc. (NASDAQ:CHIC) and certain of its officers and directors by stockholders who purchased the company's common stock between January 22, 2004 and December 6, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. |
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