Lawsuit Alert: Investors who lost money with shares of Capri Holdings Limited (NYSE: CPRI) should contact the Shareholders Foundation

An investor, who purchased shares of Capri Holdings Limited (NYSE: CPRI), filed a lawsuit over alleged violations of Federal Securities Laws by Capri Holdings Limited in connection with certain allegedly false and misleading statements.

Investors who purchased shares of Capri Holdings Limited (NYSE: CPRI) have certain options and for certain investors are short and strict deadlines running. Deadline: February 21, 2025. NYSE: CPRI investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

United Kingomd based Capri Holdings Limited designs, markets, distributes, and retails branded women's and men's apparel, footwear, and accessories in the United States, Canada, Latin America, Europe, the Middle East, Africa, Asia, and the Oceania.

On August 10, 2023, Capri Holdings Limited and Tapestry jointly announced their entry into the Merger Agreement, pursuant to which Tapestry would purchase Capri for $57 per share in cash.

On September 20, 2023, Capri filed a Definitive Proxy Statement for the Capri Acquisition with the SEC to solicit shareholder approval of the Merger Agreement.

On October 25, 2023, Capri announced that its shareholders had voted to approve adoption of the Merger Agreement.

On April 22, 2024, the FTC brought an action to enjoin the Capri Acquisition in the United States District Court for the Southern District of New York, and subsequently moved for a preliminary injunction on August 6, 2024. The FTC alleged that, if allowed, the Capri Acquisition would eliminate direct head-tohead competition between Kate Spade, Coach, and Michael Kors.

On October 24, 2024, the court granted the FTC's motion for preliminary injunction and blocked the Capri Acquisition.

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 Capri acquisition. In doing so, the court determined, 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."

Shares of Capri Holdings Limited (NYSE: CPRI) declined from $54.52 to $18.70 per share on November 14, 2024.

The plaintiff claims that between August 10, 2023 and October 24, 2024, the defendants made false and/or misleading statements and/or failed to disclose that the accessible luxury handbag market is a distinct and well-defined market within the overall handbag market and understood as such by the individual Defendants, as well as by other Capri Holdings Limited and Tapestry executives, that Capri Holdings Limited and Tapestry maintained analogous production facilities and supply chains for their accessible luxury handbags that were distinct from the production facilities and supply chains used to manufacture luxury or mass market handbags, confirming that the accessible luxury handbag market is distinct from the mass market and luxury handbag markets, that Capri Holdings Limited and Tapestry internally considered Coach and Michael Kors to be each other's closest and most direct competitors, that, conversely, Capri Holdings Limited and Tapestry did not internally consider their handbag brands to be in direct competition with luxury handbags or mass market handbags, a primary internal rationale for the Capri acquisition was to consolidate prevalent brands within the accessible luxury handbag market so as to reduce competition, increase prices, improve profit margins, and reduce consumer choice within that market, and that as a result of the above, the risk of adverse regulatory actions and/or the Capri Holdings Limited acquisition being blocked was materially higher than represented by Defendants.

Those who purchased shares of Capri Holdings Limited (NYSE: CPRI) 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.

This release was published on openPR.