The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of J.Jill, Inc. (NYSE: JILL) who purchased shares pursuant and/or traceable to the Company’s Initial Public Offering on or around October 9, 2017. A complaint has been filed on behalf of shareholders.
The complaint alleges that the Registration Statement and Prospectus filed for the Company’s IPO contained materially false and misleading statements and/or failed to disclose that: (1) the Company’s purportedly unique and superior sales and marketing approach had not insulated the Company from adverse trends affecting the overall retail industry; (2) the Company’s historic gross margin growth was not sustainable and would not continue, as it relied on various short-term boosts to revenues; (3) the Company 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) the Company’s brick-and-mortar stores were failing, as they were experiencing difficulty attracting customers and maintaining profitability, which would result in the Company shuttering up to eight stores in fiscal 2017, with the rate of store closures accelerating; and (5) as a result of the aforementioned, J.Jill’s business, prospects and ability to service its long-term debt had been materially impaired.
Shareholders have until December 12, 2017 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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