The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Ollies Bargain Outlet Holdings, Inc. (NASDAQ: OLLI) who purchased shares between June 6, 2019 and August 28, 2019. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
(1) the Company suffered a supply chain issue that impacted the initial inventory available at new stores; (2) as a result, the Company lacked sufficient inventory to meet demand at certain store locations; (3) as a result, the Company’s comparable store sales were likely to decrease quarter-over-quarter; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Shareholders have until November 18, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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