NEW YORK, Aug. 24, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of L Brands, Inc. ("L Brands" or the "Company") (NYSE: LB). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether L Brands and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On November 19, 2018, L Brands issued a press release announcing its financial and operating results for the third quarter of 2018. The press release announced that L Brands intended to reduce its annual ordinary dividend to $1.20 from $2.40 beginning with the quarterly dividend to be paid in March 2019 in order to deleverage Company's balance sheet over time.
On this news, L Brands' stock price fell $6.12 per share, or approximately 17.7%, to close at $28.43 per share on November 20, 2018.
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