NEW YORK, Dec. 5, 2017 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of Kering S.A. ("Kering" or the "Company") (OTCMKTS: PPRUY). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Kering and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On December 2, 2017, Reuters reported that Italian tax police had visited the offices of Guccio Gucci SpA ("Gucci"), a subsidiary of Kering, in connection with a tax evasion probe. Citing a "source with direct knowledge of the matter," Reuters reported that "Milan prosecutors suspected Gucci . . . may have paid taxes on profits generated by sales in Italy in another country with a more favorable tax regime."
On this news, Kering's American Depositary Receipt price fell $0.55, or 1.22%, to close at $44.15 on December 4, 2017, the following trading day.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP