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Coach Inc (NYSE: COH) Investor Securities Class Action Lawsuit 04/14/2009

  • If you purchased shares of Coach Inc (NYSE: COH), you might have certain options and 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

Case Dismissed
Company
Coach, Inc.
Security
NYSE: COH

Case Name
Coach Shareholder Class Action Lawsuit 04/14/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of New York

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

April 19, 2010 - The court granted the stipulation of voluntary dismissal.
March 29, 2010 - The parties filed a stipulation of voluntary dismissal.

January 22, 2010 - Lead plaintiff and lead counsel were appointed.

June 15, 2009 - Lead plaintiff motions were filed.

April 14, 2009 - An investor in shares of Coach Inc (NYSE: COH) filed a lawsuit in the U.S. District Court for the Southern District of New York on behalf of purchasers of Coach Inc (NYSE: COH) publicly traded securities during the period between January 23, 2007 and October 22, 2007 against Coach Inc and certain of its officers and directors over alleged Federal Securities Laws violations.

According to the complaint the plaintiff alleges that Coach Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by reporting between January 23, 2007 and October 22, 2007, strong growth for Coach Inc and forecast similar growth going forward, while failing to disclose that its growth rate was, in fact, unsustainable. Then, on October 23, 2007, before the market opened, Coach Inc announced that although its fiscal first-quarter profit rose 23%, traffic in its U.S. retail stores was weak and Coach Inc expected a slow-down in the coming holiday season. As a result of this announcement, Coach Inc’s stock (NYSE: COH) price dropped $4.87 per share (or 12%) to close at $36.60 per share on October 23, 2007, so the lawsuit.