, Dec. 5, 2013 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Eastern District of
on behalf of investors who purchased Urban Outfitters, Inc. ("Urban Outfitters" or the "Company") (Nasdaq: URBN) stock between
March 12, 2013
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
weekend 2013, something it had not been forced to do during the prior year
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.
September 9, 2013
, the Company disclosed lower than expected second quarter 2014 financial results and issued disappointing third quarter guidance. Upon this news, shares of Urban Outfitters fell from a close of
per share to a close of
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
or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in
, 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.
CONTACT: Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP