NEW ORLEANS, Oct. 04, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they have until November 1, 2022 to file lead plaintiff’s motions in a securities class action lawsuit against Kohl’s Corporation KSSif you purchased the securities of the Company between October 20, 2020 and May 19, 2022 inclusive (the “Class Period”). This lawsuit is pending in the United States District Court for the Eastern District of Wisconsin.
What you can do
If you have purchased Kohl’s stock and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you can contact KSF Managing Partner Lewis Kahn toll-free at no obligation or cost to you at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-kss/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must file a petition with the court November 1, 2022.
About the lawsuit
Kohl’s and certain of its executives are accused of failing to disclose material information during the class-action period in violation of federal securities laws.
On May 19, 2022, the Company reported disappointing first quarter 2022 financial results, including net sales growth and earnings per share below analysts’ expectations and a cut to its full-year earnings guidance due to “macro headwinds related to the overlap of last year’s stimulus and an inflationary consumption environment.” Then, on May 20, 2022, Macellum Advisors GP, LLC, “a long-term holder of nearly 5% of Kohl’s outstanding common stock,” issued a statement, in which it is about “[t]the extremely disappointing results of its quarter,” which it attributed to a “flawed strategic plan and inability to execute,” and that “the current board appears to have withheld from shareholders material information about the state of Kohl’s key annual meeting in the run-up to this year’s annual meeting “, the…
Read full story here https://www.benzinga.com/pressreleases/22/10/g29148369/kohls-shareholder-alert-by-former-louisiana-attorney-general-kahn-swick-foti-llc-reminds-investors