TAKE A LOOK AT WHICH REPORT YOUR PORTFOLIO'S BEEN MISSING...

Shareholders Foundation offers real-time reporting of class action exposure on a per transaction basis,
including the documents you will need for claim filing and settlement recovery.
Start Monitoring Your Investments

Aeropostale, Inc. Directors Hit By Investor Lawsuit Over Alleged Breaches Of Fiduciary Duties

  • If you purchased shares of Aeropostale, Inc. (NYSE: ARO) prior to February 2011 and currently hold those ARO shares, you have certain options and you should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Aeropostale, Inc.
Security
NYSE: ARO

Case Name
Aeropostale Shareholder Derivative Action 10/28/2011
Type of Lawsuit
Stockholder Derivative Action
You must register or login to receive notifications.

Click here to subscribe to Aeropostale, Inc..
Summary

Update (March 01, 2012) -- Another investor in Aeropostale filed an additional lawsuit against directors of Aeropostale over alleged breaches of fiduciary duties in connection with certain financial statements.
San Diego, Oct. 28, 2011 (Shareholders Foundation) -- A current investor in shares of Aeropostale, Inc. (NYSE: ARO) filed a lawsuit against directors of Aeropostale Inc alleging they breached their fiduciary duties.

According to the complaint the plaintiff alleges that certain directros of Aeropostale breached their fiduciary dtuies owed to ARO stockholders. The lawsuit by a current NYSE:ARO stockholder follows an earlier lawsuit filed by investors who purchased NYSE ARO stocks only in the period between February 3, 2011 and August 3, 2011. According to that lawsuit the plaintiff alleges that Aeropostale Inc. violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding its business and prospects.

Shares of Aeropostale, Inc. (Public, NYSE:ARO) rose over the 3:2 split on March 5, 2010 to as high as $31.88 on April 23, 2010, respectively $30.88 on July 23, 2010.

Then in September 2010 ARO stocks took a dive from almost $31 in July to almost $22 on September 3, 2010. ARO shares closed 2010 at $24.64 per share. In the first months of 2011 Aeropostale, Inc. shares rose to $26.64 on February 18, respectively $26.03 on April 15, 2011.On

On August 3, 2011, Aeropostale, Inc. announced updated expectations for the second quarter. Aeropostale, Inc said that for the second quarter of fiscal 2011 net sales decreased 5% to $468.2 million, from $494.7 million in the year ago period and that the Company expects net earnings to be in the range of $0.02 to $0.03 per share.

On August 18, 2011 Aeropostale, Inc announced its second quarter results. Aeropostale, Inc confirmed its on August 3, 2011 expected numbers for the second quarter 2011 and also issued a third quarter 2011 EPS guidance, which is below analysts’ estimates.

Following the announcements ARO shares fell from $16.52 per share on August 3, 2011 to $12.53 on August 4, 2011 and continued to decline to as low as $9.31 on Sept. 22, 2011.