NEW YORK, Dec. 06, 2017 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a federal securities class action was filed against J.Jill, Inc. (NYSE: JILL ) (J.Jill”) in the United States District Court for the District of Massachusetts on behalf of all purchasers of J.Jill securities pursuant and/or traceable to the company’s March 9, 2017 initial public offering ("IPO).
Investors who have incurred losses in J.Jill, Inc. a re urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action on our website, www.whafh.com.
If you have incurred losses in the shares of J.Jill, Inc. and would like to assist with the litigation process as a lead plaintiff, you may, no later than December 12, 2017 , request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as a shareholder of J.Jill, Inc.
According to the filed complaint, J.Jill officials represented that the company was insulated from adverse trends impacting the retail sector. The company's registration statement stated that J.Jill's " customer-focused strategy, foundational investments and data insights have resulted in consistent, profitable growth" and would "continue to drive profitable sales growth over time." The registration statement further noted that the target demographic for the company's product made it unlikely that its customers would switch to competing brands.
In reality, J.Jill was susceptible to adverse trends in the retail industry because its historic gross margin growth was not sustainable, it was carrying increasing amounts of slow moving inventory and its brick-and-mortar stores were failing. J.Jill had been suffering from difficulty attracting customers and maintaining profitability, ultimately leading the company to close eight stores in fiscal 2017.
J.Jill's stock closed at $4.86 per share on October 12, 2017, more than 62% below its offering price of $13.00 per share - just seven months after the IPO.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com , or visit our website at www.whafh.com .
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Contact:
Wolf Haldenstein Adler Freeman & Herz LLP Kevin Cooper, Esq. Gregory Stone, Director of Case and Financial Analysis Email: gstone@whafh.com , kcooper@whafh.com or classmember@whafh.com Tel: (800) 575-0735 or (212) 545-4774
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