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The Men's Wearhouse Inc (NYSE: MW) Investor Securities Class Action Lawsuit 10/08/2009

  • If you purchased shares of The Men's Wearhouse Inc (NYSE: MW), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Men's Wearhouse, Inc. (The)
Security
NYSE: MW

Case Name
Men's Wearhouse Shareholder Class Action Lawsuit 10/08/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of Texas

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

July 22, 2011 - The court ordered the case dismissed.
April 12, 2010 - The defendants filed a motion to dismiss.

February 26, 2010 - The lead plaintiff filed an amended complaint.

December 16, 2009 - The lead plaintiff and lead counsel were appointed.

December 7, 2009 - A led plaintiff motion was filed.

October 8, 2009 - An investor in shares of The Men's Wearhouse Inc (NYSE: MW) filed a lawsuit in the U.S. District Court for the Southern District of Texas against The Men's Wearhouse Inc over alleged violations of Federal Securities Laws in connection with certain and allegedly false and misleading statements made between March 7, 2007 and January 9, 2008.

According to the complaint the plaintiff alleges that The Men's Wearhouse Inc and certain of its executives violated the Exchange Act by issuing between March 7, 2007 and January 9, 2008 numerous positive statements regarding The Men's Wearhouse Inc’s financial condition, business and prospects and that these statements were materially false and misleading because defendants failed to disclose adverse facts. Then on January 9, 2008, The Men's Wearhouse Inc announced its mid fourth quarter update for the quarter ending February 2, 2008. In response to The Men's Wearhouse Inc’s reduced guidance for fiscal 2007, the price of The Men's Wearhouse Inc (NYSE: MW) common stock fell $7.60 per share, or 30%, to close at $17.84 per share, on January 10, 2008, on extremely heavy trading volume.

The Men’s Wearhouse Inc located in Houston, Texas, is a specialty retailer of men’s suits, and provider of tuxedo rental product in the United States and Canada. As of January 31, 2009, The Men's Wearhouse Inc operated 805 retail apparel stores, with 688 stores in the United States and 117 stores in Canada, and 489 tuxedo rental stores in the United States. The Men’s Wearhouse Inc reported in 2007 (ending on 02/02/2008) Total Revenue of $2.11256billion with a Net Income of $147.04million and in 2008 (ending on 01/31/2009) Total Revenue of $1.97242billion with a Net Income of $58.84million. Shares of The Men’s Wearhouse Inc traded recently at $25.73 per share, down form its 52weekHigh of $27.67 per share and almost $55 per share in 2007.