NEW ORLEANS, Sept. 22, 2019 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors with losses in excess of $100,000 that they have only until September 23, 2019 to file lead plaintiff applications in a securities class action lawsuit against L Brands, Inc. (NYSE: LB). Investor losses must relate to purchases of the Company’s shares between May 31, 2018 and November 19, 2018. This action is pending in the United States District Court for the Southern District of Ohio.
What You May Do
If you purchased shares of L Brands and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-lb/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by September 23, 2019.
About the Lawsuit
On November 19, 2018, the Company released its financial results for the 3Q2018, the period ended November 3, 2018, disclosing that, contrary to its prior assurances, the Company was cutting its dividend in half so that it could pay down existing debt. On this news, the price of L Brands’ shares dropped approximately 18%, from $34.55 per share on November 19, 2018 to $28.43 per share on November 20, 2018.
The case is Walker v. L Brands, Inc., et al., 19-cv-3186.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
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