Press release
Investigation announced for Investors in shares of Designer Brands Inc. (NYSE: DBI) over potential Wrongdoing by certain directors
An investigation on behalf of investors in Designer Brands Inc. (NYSE: DBI) shares over potential wrongdoing at Designer Brands.
Investors who purchased shares of Designer Brands Inc. (NYSE: DBI) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Designer Brands Inc. directors breached their fiduciary duties and caused damage to the company and its shareholders.
Columbus, OH based Designer Brands Inc., together with its subsidiaries, designs, manufactures, and retails footwear and accessories for women, men, and kids primarily in the United States and Canada.
On December 5, 2023, Designer Brands Inc. announced financial results for the third quarter ended October 28, 2023. Revenue dropped 9.1% year-over-year to $786.3M vs. $822.8M consensus. Comparable sales decreased by 9.3% during the quarter vs. -5.1% consensus. EPS was $0.24 vs. $0.46 consensus and $0.67 a year ago. The investigation pertains to whether executives at the company misrepresented or failed to timely disclose material and adverse information to investors.
Shares of Designer Brands Inc. (NYSE: DBI) declined from $12.84 per share on December 04, 2023, to as low as $8.22 per share on December 07, 2023.
Those who purchased shares of Designer Brands Inc. (NYSE: DBI) have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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