April 24, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Tillys Inc (NYSE:TLYS) shares over potential securities laws violations by Tillys Inc and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Tillys Inc (NYSE:TLYS) concerning whether a series of statements by Tillys regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On March 19, 2014, Tilly's Inc announced its fourth quarter and fiscal year 2013 results. Tilly's Inc reported that its Total Revenue rose from $467.29 million for the 53 weeks period that ended on February 2, 2013 to $495.84 million for the 52 weeks period that ended on February 1, 2014 and that its respective Net Income declined from $23.89 million to $18.14 million. Shares of Tilly's Inc (NYSE:TLYS) declined from $16.93 per share in July 2013 to as low as $6.88 per share in November 2014.

On March 18, 2015, Tilly's Inc reported its fourth quarter and full year fiscal 2014 results. Tilly's Inc reported that its Total Revenue increased from $495.84 million for the 5 weeks period that ended on February 2, 2014 to $518.29 million for the 52 weeks period that ended on February 1, 2015 and that its respective Net Income declined from $18.14 million to $14.07 million.

On April 20, 2015, Tilly's Inc announced that its Chief Financial Officer intends to resign from Tillys effective in June 2015.

Shares of Tilly's Inc (NYSE:TLYS) declined to as low as $14.16 per share on April 21, 2015.