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Limited Brands Inc (NYSE: LTD) Investor Securities Class Action Lawsuit 11/06/2009

  • If you purchased shares of Limited Brands Inc (NYSE: LTD), 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
Limited Brands, Inc.
Security
NYSE: LTD

Case Name
Limited Brands Shareholder Class Action Lawsuit 11/06/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of Ohio

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

March 29, 2011 - The court granted defendants' motion to dismiss and dismissed the case with prejudice.
August 24, 2010 - Defendants filed a motion to dismiss.

June 25, 2010 - The lead plaintiff filed an amended complaint.

April 5, 2010 - Lead plaintiff and lead counsel were appointed.

January 5, 2010 - Lead plaintiff motion was filed.

November 6, 2009 - An investor in shares of Limited Brands Inc (NYSE: LTD) filed a lawsuit in the U.S. District Court for the Southern District of Ohio on behalf of purchasers of Limited Brands Inc (NYSE: LTD) common stock during the period of August 22, 2007 through February 28, 2008, over alleged violations of the Federal Securities Laws by Limited Brands Inc and others.

According to the complaint the plaintiff alleges that Limited Brands Inc and certain of its officers and directors violated the Exchange Act of 1934 by issuing between August 22, 2007 and February 28, 2008 numerous positive statements regarding its financial condition, business and prospects that were materially false and misleading when made because defendants failed to disclose adverse events surrounding the development of a new warehouse and certain technology. On February 27, 2008, Limited Brands Inc issued a press release reporting fourth quarter and full year 2007 earnings. This press release significantly lowered Limited Brands Inc’s previously issued guidance for 2008 and in response to the announcement, the price of Limited Brands Inc common stock fell from $17.82 on February 27, 2008 to $15.85 on February 28, 2008 on heavy trading volume, so the lawsuit.

Limited Brands Inc located in Columbus, Ohio, reported in 2007 Total Revenue of $10.134billion with a Net Income of $718million and in 2008 Total Revenue of $9.043billion with a Net Income of $220.00million. Limited Brands Inc is a specialty retailer of women’s intimate and other apparel, beauty and personal care products and accessories under various trade names. The Company sells its merchandise through the retail stores in the United States and Canada, which are primarily mall-based, and through its Websites and catalogs. Limited Brands Inc shares NYSE: LTD traded recently at $18.18 per share, down from over $20 per share in 2008, and almost $30 per share in 2007.