Lawsuit Overview
Settlement Overview
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January 21, 2015 - The court held a final settlement hearing, approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
October 10, 2014 - The court preliminarily approved the settlement.
August 25, 2014 - Parties filed a stipulation of settlement.
March 19, 2014 - The court granted the defendants' motion to dismiss and granted lead plaintiff leave to amend.
April 23, 2013 - The defendants filed a motion to dismiss.
February 26, 2013 - The lead plaintiff filed a corrected amended complaint.
December 13, 2012 - The lead plaintiff and lead counsel were appointed.
December 7, 2012 - A lead plaintiff motion was filed.
August 27, 2012 - An investor in shares of Body Central Corp (NASDAQ: BODY) filed a lawsuit in the U.S. District Court for the Middle District of Florida against Body Central Corp over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between November 10, 2011 and June 18, 2012.
According to the complaint the plaintiff alleges on on behalf of purchasers of Body Central Corp (NASDAQ: BODY) common stock during the period between November 10, 2011 and June 18, 2012, that Body Central Corp and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding Body Central Corp's financials and future business prospects.
Specifically, so the plaintiff, defendants allegedly misrepresented and/or failed to disclose adverse facts concerning what defendants described as a merchandise miss, as well as the poor operating and financial performance of Body Central Corp's stores and as a result of defendants' statements, which included statements regarding Body Central Corp's 2012 financial outlook, Body Central Corp common stock (NASDAQ: BODY) traded at artificially inflated prices between November 10, 2011 and June 18, 2012, reaching a high of $30.69 per share on April 27, 2012.
Then on May 3, 2012, after the market closed, Body Central Corp (NASDAQ: BODY) announced its first quarter 2012 financial results, on June 18, 2012, Body Central Corp revised its guidance for the second quarter and full year, and then on August 6, 2012, NASDAQ: BODY shares closed at $8.14 per share, substantially below its current 52 week High of $30.93 per share.
Body Central Corp (NASDAQ: BODY) stocks dropped from as high as $30.69 per share on April 27, 2012, to $14.879 on May 4, 2012 and then to as low as $8.22 per share on June 18, 2012.
On August 28, 2012, Body Central Corp (NASDAQ: BODY) shares closed at $8.78 per share.