Lawsuit for Investors in J.Jill Inc. (NYSE: JILL) Shares Announced by Shareholders Foundation
SAN DIEGO, CA / ACCESSWIRE / October 31, 2017 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for investors who purchased J.Jill Inc. shares against J.Jill Inc. over alleged Securities Laws Violations in connection with certain allegedly false and misleading statements made in connection with the Company’s March 9, 2017 initial public offering (”IPO”).
Investors who purchased shares of J.Jill Inc. (NYSE: JILL) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
On March 9, 2017, J.Jill Inc. stock opened for trading at $12.75, the same day that the Company sold 11.7 million shares of stock in its IPO.
On October 13, 2017, a securities class action lawsuit was filed against J.Jill Inc. over alleged securities laws violations. The plaintiff claims that the statements in the Registration Statement were false and misleading when made because the Company’s purportedly unique and superior sales and marketing approach had not insulated the Company from adverse trends affecting the overall retail industry. Moreover, the Company was carrying increasing amounts of slow moving inventory and would need to significantly markdown sale items and increase promotional efforts in an attempt to continue its sales growth, and the Company’s brick-and-mortar stores were experiencing difficulty attracting customers and maintaining profitability, which would result in the Company shuttering up to eight stores in fiscal 2017 – thereby diminishing the Company’s gross margins and impairing its ability to service its long-term debt.
Shares of J.Jill Inc. (NYSE: JILL) declined from $14.20 per share in April 2017 to as low as $4.74 per share on October 18, 2017.
Those who purchased J.Jill Inc. (NYSE: JILL) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Shareholders Foundation, Inc.
+1 (858) 779-1554
3111 Camino Del Rio North
San Diego, CA 92108
SOURCE: The Shareholders Foundation, Inc.