An investigation on behalf of investors of V.F. Corporation (NYSE: VFC) shares over potential securities laws violations by V.F. Corporation and certain of its directors and officers in connection with certain financial statements was announced.

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

Greenwood Village, CO based V.F. Corporation engages in the design, production, procurement, marketing, and distribution of branded lifestyle apparel, footwear, and related products for men, women, and children in the Americas, Europe, and the Asia-Pacific. V.F. Corporation reported that its Total Revenue rose from over $3.04 billion for the 12 months period that ended on March 31, 2018 to over $13.84 billion for the 12 months period that ended on March 31, 2019, and that its Net Income over those respective time periods increased from $252.79 million to over $1.25 billion.

On January 23, 2020, V.F. Corporation announced third-quarter fiscal 2020 results. V.F. Corporation reported net revenue of $3.38 billion for the three months ended December 28, 2019, but fell short of the average analyst estimate of $3.43 billion. Additionally, V.F. Corporation estimated annual revenue of $11.75 billion, compared with its prior forecast of $11.8 billion. It projected adjusted profit per share to be about $3.30, lower than its previous range of $3.32 to $3.37.
On a conference call that same day, CFO Scott Roe, disclosed that V.F. Corporation intended to sell 'the Occupational Work Brands.' Roe stated, 'From a financial standpoint the occupational work brands contributed about $865 million of revenue and $130 million of adjusted operating income in fiscal 2019.'

Shares of V.F. Corporation (NYSE: VFC) declined from $100.25 per share on January 2, 2020 to as low as $82.24 per share on January 27, 2020.