Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of investors who purchased Urban Outfitters, Inc. (“Urban Outfitters” or the “Company”) (Nasdaq: URBN) stock between March 12, 2013 and September 9, 2013.
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The Complaint alleges that throughout the Class Period defendants made false and misleading statements and/or failed to disclose the following: a) Urban Outfitters’ comparable sales growth had significantly declined, particularly in its all-important Urban Outfitters group; (b) as a result of declining sales, Urban Outfitters was forced to offer an additional 30% off all clearance items during Labor Day weekend 2013, something it had not been forced to do during the prior year Labor Day weekend; and (c) as a result of the foregoing, the Company was not on track to achieve the financial results defendants had led the market to expect during the Class Period.
On September 9, 2013, the Company disclosed lower than expected second quarter 2014 financial results and issued disappointing third guarter guidance. Upon this news, shares of Urban Outfitters fell from a close of $42.71 per share to a close of $38.35 per share on September 10, 2013.If you suffered a loss in Urban Outfitters you have until December 10, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://zlk.9nl.com/urban-outfitters-urbn/. Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.