Cases
J.Jill, Inc.
Securities Class Action
Overview
Overview
- Date:
- 10/16/2017
- Company Name:
- J.Jill, Inc.
- Stock Symbol:
- JILL
- Class Period:
- FROM 3/6/2017 TO 10/13/2017
- Status:
- Closed/Complete
- Court:
- U.S. District Court: Massachusetts
NEW YORK, October 16, 2017 – Bragar Eagel & Squire, P.C. reminds investors that a class action lawsuit has been filed in the U.S. District Court for the District of Massachusetts on behalf of all persons or entities who purchased or otherwise acquired J.Jill, Inc. (NYSE: JILL) securities between March 6, 2017 and October 13, 2017 (the “Class Period”). Investors have until December 12, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint charges J.Jill, certain of its officers and directors, certain of the underwriters of the IPO and J.Jill’s controlling shareholder with violations of the Securities Act of 1933. J.Jill is a women's specialty apparel brand.
On or about February 10, 2017, the Company filed with the SEC a registration statement on Form S-1 for the IPO, which was subsequently amended and declared effective on March 8, 2017. On March 9, 2017, the Registration Statement was used to sell approximately 12.5 million shares of J.Jill common stock to the investing public at $13 per share.
According to the Complaint, the Registration Statement communicated that the Company’s unique business strategy had insulated it from adverse industry trends and, as a result, J.Jill would be able to continue to grow its gross profits. The Complaint asserts that the statements in the Registration Statement were false and misleading when made because the Company’s purportedly unique and superior sales and marketing approach had not insulated the Company from adverse trends affecting the overall retail industry. Moreover, the Company was carrying increasing amounts of slow moving inventory and would need to significantly markdown sale items and increase promotional efforts in an attempt to continue its sales growth, and the Company’s brick-and-mortar stores were experiencing difficulty attracting customers and maintaining profitability, which would result in the Company shuttering up to eight stores in fiscal 2017 – thereby diminishing the Company’s gross margins and impairing its ability to service its long-term debt. On October 12, 2017, J.Jill common stock closed at $4.86 per share, or more than 62% below its offering price only seven months after the IPO.
Plaintiff seeks to recover damages on behalf of all purchasers of J.Jill common stock in or traceable to the Company’s March 9, 2017 IPO.
If you purchased or otherwise acquired J.Jill securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The Complaint charges J.Jill, certain of its officers and directors, certain of the underwriters of the IPO and J.Jill’s controlling shareholder with violations of the Securities Act of 1933. J.Jill is a women's specialty apparel brand.
On or about February 10, 2017, the Company filed with the SEC a registration statement on Form S-1 for the IPO, which was subsequently amended and declared effective on March 8, 2017. On March 9, 2017, the Registration Statement was used to sell approximately 12.5 million shares of J.Jill common stock to the investing public at $13 per share.
According to the Complaint, the Registration Statement communicated that the Company’s unique business strategy had insulated it from adverse industry trends and, as a result, J.Jill would be able to continue to grow its gross profits. The Complaint asserts that the statements in the Registration Statement were false and misleading when made because the Company’s purportedly unique and superior sales and marketing approach had not insulated the Company from adverse trends affecting the overall retail industry. Moreover, the Company was carrying increasing amounts of slow moving inventory and would need to significantly markdown sale items and increase promotional efforts in an attempt to continue its sales growth, and the Company’s brick-and-mortar stores were experiencing difficulty attracting customers and maintaining profitability, which would result in the Company shuttering up to eight stores in fiscal 2017 – thereby diminishing the Company’s gross margins and impairing its ability to service its long-term debt. On October 12, 2017, J.Jill common stock closed at $4.86 per share, or more than 62% below its offering price only seven months after the IPO.
Plaintiff seeks to recover damages on behalf of all purchasers of J.Jill common stock in or traceable to the Company’s March 9, 2017 IPO.
If you purchased or otherwise acquired J.Jill securities during the Class Period or continue to hold shares purchased prior to the Class Period, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.