NEW YORK, March 9, 2020 /PRNewswire/ — 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 February 1, 2020, The New York Times published an article entitled “‘Angels’ in Hell: The Culture of Misogyny Inside Victoria’s Secret.” According to the article, certain “top executives” at L Brands, the parent company of Victoria’s Secret, “presided over an entrenched culture of misogyny, bullying and harassment, according to interviews with more than 30 current and former executives, employees, contractors and models, as well as court filings and other documents.”
On this news, L Brand’s stock price fell $0.72 per share, or 3.11%, to close at $22.44 on February 3, 2020.
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