Security Investigation
Capri Holdings Limited (NYSE: CPRI)
45 Days left to seek lead plaintiff status.
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Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 21, 2025 to file lead plaintiff applications in a securities class action lawsuit against Capri Holdings Limited (the “Company”) (NYSE: CPRI).
Capri and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 10, 2023, the Company and Tapestry, Inc. announced a merger agreement, pursuant to which Tapestry would purchase Capri for $57 per share in cash. On October 24, 2024, Judge Jennifer L. Rochon of the U.S. District Court for the Southern District of New York granted the U.S. Federal Trade Commission’s motion to preliminarily enjoin the acquisition of the Company by Tapestry citing, among other things, that a “substantial body of compelling evidence” demonstrated that, in contrast to their public statements, defendants themselves believed that their brands were direct competitors in a well-defined “accessible luxury handbag market.” On this news, the price of Capri’s shares fell by nearly 50%.
If you purchased shares or sold puts of Capri as above and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or fill out the form on this page.
The case is Hurwitz v. Capri Holdings Limited, et al., No. 24-cv-01410.