NEW YORK--(BUSINESS WIRE)--
Scott+Scott, Attorneys at Law, LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, is notifying investors that a class action lawsuit has been filed against J.Jill, Inc. (NYSE: JILL) (“J.Jill” or the “Company”) and other defendants, related to alleged violations of federal securities laws. If you purchased shares of J.Jill common stock in or traceable to the Company’s March 9, 2017 initial public offering (“IPO”), you are encouraged to a contact Scott+Scott for additional information. The deadline for lead plaintiff motions is December 12, 2017.
J.Jill is a specialty apparel brand focused on affluent women in the 40 to 65 age segment.
The lawsuit claims that the Registration Statement filed by J.Jill for the IPO was misleading because it failed to disclose that: (1) J.Jill’s purportedly unique and superior sales and marketing approach had not insulated the Company from adverse trends affecting the overall retail industry; (2) J.Jill’s historic gross margin growth was not sustainable and would not continue, as it relied on revenues from shipping fees, increased promotional efforts and other short-term boosts to revenues; (3) J.Jill was carrying increasing amounts of slow moving inventory and would need to significantly markdown sales items and increase promotional efforts in an attempt to continue its sales growth; (4) J.Jill’s brick-and-mortar stores were failing, as they were experiencing difficulty attracting customers and maintaining profitability, which would result in the shuttering of up to eight stores in fiscal 2017, with the rate of store closures accelerating; and (5) J.Jill’s business, prospects and ability to service its long-term debt had been materially impaired.
On October 12, 2017, the day before the lawsuit was filed, J.Jill common stock closed at $4.86 per share, more than 62% below its IPO price.
What You Can Do
If you purchased J.Jill common stock in or traceable to the IPO, or if you have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at [email protected].
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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