Press release from Business Wire
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Kohl's Corporation
Monday, July 29, 2013
Glancy Binkow & Goldberg LLP Announces Class Action Lawsuit Against Kohl's Corporation14:40 EDT Monday, July 29, 2013
LOS ANGELES (Business Wire) -- Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all purchasers of the securities of Kohl's Corporation (“Kohl's” or the “Company”) (NYSE:KSS) between February 26, 2009 and September 13, 2011, inclusive (the “Class Period”).
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US TOLL-FREE AT (888) 773-9224, OR AT (212) 682-5340, OR BY EMAIL TO SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Kohl's operates family-oriented department stores and a website that offer moderately priced apparel, footwear and accessories for women, men and children, soft home products such as sheets and pillows, and housewares. The Complaint alleges that defendants issued materially false and misleading statements or failed to disclose material adverse facts throughout the Class Period concerning the Company's operations and financial condition. Specifically, the Company misrepresented or failed to disclose that: (1) the Company's reported debt was materially understated; (2) the Company's reported equity was materially overstated; (3) the Company's leverage ratios, including its debt-to-equity ratio, were materially understated; (4) the Company violated accounting standards associated with the accounting for and disclosure of leases; (5) the Company's financial statements were not presented in conformity with Generally Accepted Accounting Principles and were materially false and misleading; (6) the Company's representations about its internal and disclosure controls were false and misleading; and (7) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its financial condition.
If you are a member of the Class described above you may move the Court no later than September 23, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements.
If you wish to learn more about this action or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Glancy Binkow & Goldberg LLP, Los Angeles, CA
Glancy Binkow & Goldberg LLP, New York, NY
(212) 682-5340 or (888) 773-9224