Cision PR Newswire

NEW YORK, Jan. 3, 2025 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized law firm, notifies investors that a class action lawsuit has been filed against Capri Holdings Limited ("Capri" or "the Company") (NYSE: CPRI) and certain of its officers.

Class Definition

This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Capri securities between August 10, 2023 and October 24, 2024, both dates inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/CPRI.

Case Details

The Complaint alleges that throughout the class period, Defendants made false statements and/or concealed that: (1) 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 and Tapestry executives; (2) Capri 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; (3) Capri and Tapestry internally considered Coach and Michael Kors to be each other's closest and most direct competitors; (4) conversely, Capri and Tapestry did not internally consider their handbag brands to be in direct competition with luxury handbags or mass market handbags; (5) a primary internal rationale for the Capri Acquisition, the acquisition of Capri by Tapestry, 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 (6) as a result of (1)-(5) above, the risk of adverse regulatory actions and/or the Capri Acquisition being blocked was materially higher than represented by Defendants.

What's Next?

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: bgandg.com/CPRI. or you may contact Peretz Bronstein, Esq. or his Client Relations Manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC at 332-239-2660. If you suffered a loss in Capri you have until February 21, 2025, to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as lead plaintiff.

There is No Cost to You

We represent investors in class actions on a contingency fee basis. That means we will ask the court to reimburse us for out-of-pocket expenses and attorneys' fees, usually a percentage of the total recovery, only if we are successful.

Why Bronstein, Gewirtz & Grossman

Bronstein, Gewirtz & Grossman, LLC is a nationally recognized firm that represents investors in securities fraud class actions and shareholder derivative suits. Our firm has recovered hundreds of millions of dollars for investors nationwide.

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Contact

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com

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SOURCE Bronstein, Gewirtz & Grossman, LLC