LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz announces an investigation of G-III Apparel Group, Ltd. (“G-III” or the “Company”) (NASDAQ: GIII) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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On November 30, 2022, G-III announced third-quarter operating results, disclosing that higher inventory levels caused “logistical challenges within [its] distribution centers.” As a result, the Company reported “significant” charges in the third quarter “that were above [its] expectations, which adversely impacted [its] bottom line by approximately $0.40 per diluted share.”
On this news, G-III’s stock price fell $9.66, or 44.7%, to close at $11.97 per share on December 1, 2022, thereby injuring investors.
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If you purchased G-III securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [email protected], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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