NEW YORK, Oct. 11, 2011 /PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Aeropostale, Inc. ("Aeropostale" or the "Company") (NYSE : ARO ) common stock between February 3, 2011 and August 3, 2011 (the "Class Period").
For more information, click here: http://zlk.9nl.com/aeropostale.
The complaint alleges that Aeropostale and certain of its officers and directors issued materially false and misleading statements regarding the Company's business and prospects. Specifically, the complaint alleges that defendants misrepresented and/or failed to disclose that: (a) Aeropostale was experiencing declining demand for its women's fashion division, which makes up 70% of the Company's sales; (b) due to increasing inventory and higher clothing discounts, the Company was enduring pressure on its profit margins; and (c) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
On August 4, 2011, Aeropostale announced net earnings of between $0.02 and $0.03 per share for the second quarter of 2010, well below the Company's guidance of $0.11 to $0.16 per share. Upon this news, shares of Aeropostale stock fell more than 20% to close at $12.53 per share.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. 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 firstname.lastname@example.org or by telephone at (877) 363-5972, or visit http://www.zlk.com/aeropostale-aro.html.
Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
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