An investigation was announced on behalf of investors of V.F. Corporation (NYSE: VFC) shares concerning potential securities laws violations by V.F. Corporation and certain of its directors and officers in connection with certain financial statements was announced.
Investors who purchased shares of V.F. Corporation (NYSE: VFC), 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 focuses on 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. 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.
On February 5, 2020, NYSE: VFC shares closed at 84.60 per share.
Those who purchased shares of V.F. Corporation (NYSE: VFC) have certain options and should contact the Shareholders Foundation.
Media Contact:
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Shareholders Foundation, Inc.
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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 class actions, 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.
