NEW YORK, April 1, 2016 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Tailored Brands, Inc. ("Tailored Brands" or the "Company") (NYSE: TLRD). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Tailored Brands and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On June 18, 2014, Tailored Brands (f/k/a The Men's Wearhouse, Inc.) announced the completion of its acquisition of Jos. A. Bank Clothiers, Inc. for $65.00 per share in cash. Tailored Brands' President and CEO Doug Ewert touted the synergies and benefits of the acquisition and called the combined entity "a truly great Company for all our stakeholders." On November 5, 2015, the Company announced its preliminary results for the third quarter of 2015, informing investors of significant comparable sales weakness at Jos. A Bank stores and that fourth quarter sales were expected to be down between 20-25% from the same period in the prior year.
On this news, Tailored Brands stock fell $19.40 per share, or 46.1%, to close at $22.70 on November 6, 2015, on extremely high volume.
On December 9, 2015, the Company announced third quarter earnings that were worse than anticipated, and informed investors that same-store sales at Jos. A Bank were actually tracking to be down more than 35% in the fourth quarter.
On this news, Tailored Brands stock fell $3.30 per share, or 17.77%, to close at $15.27 on December 10, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
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SOURCE Pomerantz LLP