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WILMINGTON, Del., Aug. 10, 2015 (GLOBE NEWSWIRE) -- Andrews & Springer LLC, a boutique securities class action law firm focused on representing shareholders nationwide, announced today that a securities fraud class action lawsuit has been filed on behalf of investors of Urban Outfitters, Inc. (NASDAQ:URBN) (“Urban Outfitters” or the “Company”) in the U.S. District Court, Eastern District of Pennsylvania, for possible corporate misconduct and violations of securities laws.
A copy of the complaint is available from Andrews & Springer LLC. If you currently own shares of Urban Outfitters and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/urban-outfitters-class-action or contact Craig J. Springer, Esq. at email@example.com, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – https://www.linkedin.com/company/andrews-&-springer-llc, Twitter – http://www.twitter.com/AndrewsSpringer or Facebook - http://www.facebook.com/AndrewsSpringer for future updates.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, between March 12, 2013 and September 9, 2013, members of Urban Outfitters’ senior management engaged in a fraudulent scheme to artificially inflate the Company’s stock price by misrepresenting and concealing information regarding failed product assortments and resulting deceleration in sales growth during the first half of fiscal year 2014, leading up to and including Urban Outfitters’ crucial back-to-school season. On September 9, 2013, after the market had closed, Urban Outfitters filed its quarterly report on Form 10-Q where it disclosed for the first time that the Company’s sales growth had fallen. After the Company disclosed this news, stock analysts were stunned and the Company’s stock price fell more than 10% closing at $38.35 per share on September 10, 2013. As a result of this fraud, shareholders suffered millions in losses.
As a result of the foregoing news, on October 11, 2013, an Urban Outfitters shareholder represented by another law firm filed a class action complaint against Urban Outfitters for securities fraud. The complaint was filed in the United States District Court, Eastern District of Pennsylvania, Case No. 2:13-cv-05978.
If you currently own shares of Urban Outfitters and want to receive additional information and protect your investments free of charge, please visit us at http://www.andrewsspringer.com/cases-investigations/urban-outfitters-class-action or contact Craig J. Springer, Esq. at firstname.lastname@example.org, or call toll free at 1-800-423-6013. You may also follow us on LinkedIn – https://www.linkedin.com/company/andrews-&-springer-llc, Twitter – http://www.twitter.com/AndrewsSpringer or Facebook - http://www.facebook.com/AndrewsSpringer for future updates.
Andrews & Springer is a boutique securities class action law firm representing shareholders nationwide who are victims of securities fraud, breaches of fiduciary duty or corporate misconduct. Having formerly defended some of the largest financial institutions in the world, our founding members use their valuable knowledge, experience, and superior skill for the sole purpose of achieving positive results for investors. These traits are the hallmarks of our innovative approach to each case our Firm decides to prosecute. For more information please visit our website at www.andrewsspringer.com. This notice may constitute Attorney Advertising.
Contact: Craig J. Springer, Esq. email@example.com Toll Free: 1-800-423-6013NEXT ARTICLE
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