NEW YORK, Feb. 10, 2015 /PRNewswire/ -- Harwood Feffer LLP (www.hfesq.com) is investigating potential claims against the board of directors of Movado Group, Inc. ("Movado" or the "Company") (NYSE: MOV), concerning whether the board has breached its fiduciary duties to shareholders.
On February 4, 2015, a class action complaint was filed against the Company and certain of its officers and directors in the U.S. District Court for the District of New Jersey, Case No. 2:15-cv-00831. Among other things, the complaint alleges that defendants issued materially false and misleading statements regarding the Company's growth prospects. While Movado stock was artificially inflated due to these statements, the Company's CEO sold over $8.5 million of Movado stock.
Our investigation concerns whether the Company board of directors has breached its fiduciary duties to shareholders, grossly mismanaged the Company, and/or committed abuses of control in connection with the foregoing.
If you own Movado shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regard to this matter, please contact:
Robert I. Harwood, Esq.
Benjamin I. Sachs-Michaels, Esq.
Harwood Feffer LLP
488 Madison Avenue
New York, New York 10022
Phone Numbers: (877) 935-7400
Follow us on Twitter: @HarwoodFeffer
Harwood Feffer has been representing individual and institutional investors for many years, serving as lead counsel in numerous cases in federal and state courts. Please visit the Harwood Feffer LLP website (http://www.hfesq.com) for more information about the firm.
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SOURCE Harwood Feffer LLP