PLCE - PLCE Litigation Report: Levi & Korsinsky LLP Provides Investors Further Information on Lawsuit Against The Children's Place Inc. | Benzinga
NEW YORK, April 04, 2024 (GLOBE NEWSWIRE) -- The following Litigation Report is being issued by Levi & Korsinsky, LLP:
The Children's Place, Inc. Litigation Report
Case Introduction
Khalsa v. The Children's Place, Inc., et al 2:24-cv-01182-EP-CLW
On February 28, 2024, investors sued The Children's Place, Inc. ("The Children's Place" or the "Company") in United States District Court for the District of New Jersey.
Plaintiffs in the federal securities class action allege that they acquired The Children's Place stock at artificially inflated prices between March 16, 2023 and February 8, 2024 (the "Class Period"). They are now seeking compensation for financial losses incurred upon public revelation of the Company's alleged misconduct during that time. To learn whether you may be eligible for a recovery under this class action, go to https://zlk.com/pslra-1/the-childrens-place-lawsuit-submission-form?wire=32
Summary of the Allegations
Company Background
The Company (NASDAQ:PLCE) is a self-described omni-channel children's specialty portfolio of brands.
As such, The Children's Place claims that it designs, contracts to manufacture, and sells "fashionable, high-quality apparel, accessories and footwear." The Company also says that it mostly does so at value prices under its own brands. These are: "The Children's Place", "Gymboree", "Sugar & Jade", and "PJ Place."
In all, the Company says, Its global retail and wholesale network is comprised of four digital storefronts and more than 500 stores in North America. It also includes wholesale marketplaces and distribution in 16 countries through six international franchise partners, the Company says.