Nov. 6, 2009 (Business Wire) -- Coughlin Stoia Geller Rudman & Robbins LLP (“Coughlin Stoia”) (http://www.csgrr.com/cases/limitedbrands/) today announced that a class action has been commenced on behalf of an institutional investor in the United States District Court for the Southern District of Ohio on behalf of purchasers of Limited Brands, Inc. (“Limited Brands” or the “Company”) (NYSE:LTD) common stock during the period of August 22, 2007 through February 28, 2008, inclusive (the “Class Period”), for violations of the Securities Exchange Act of 1934 (the “Exchange Act”).
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Coughlin Stoia at 800/449-4900 or 619/231-1058, or via e-mail at djr@csgrr.com. If you are a member of this Class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/limitedbrands/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Limited Brands and certain of its officers and directors with violations of the Exchange Act. Limited Brands is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories under various trade names, including Victoria’s Secret. The Company sells merchandise through retail stores, which are primarily mall-based, in the United States and Canada, and through websites and catalogues.
The complaint alleges that, throughout the Class Period, defendants made numerous positive statements regarding the Company’s financial condition, business and prospects. The complaint further alleges that these statements were materially false and misleading when made because defendants failed to disclose adverse events surrounding the development of a new warehouse and certain technology.
On February 27, 2008, Limited Brands issued a press release reporting fourth quarter and full year 2007 earnings. This press release significantly lowered the Company’s previously issued guidance for 2008. In response to the announcement, the price of Limited Brands common stock fell from $17.82 on February 27, 2008 to $15.85 on February 28, 2008 on heavy trading volume.
Plaintiff seeks to recover damages on behalf of all purchasers of Limited Brands common stock during the Class Period (the “Class”). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.
