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NEW YORK, Oct. 25, 2022 (GLOBE NEWSWIRE) — Bernstein Liebhard LLP, a nationally recognized investor rights law firm, is reminding investors of the deadline for filing a motion by lead plaintiff in a securities class action lawsuit filed on behalf of investors holding the securities of the Kohl’s Corporation (“Kohl’s” or the “Company”) KSS in between October 20, 2020 and May 19, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Eastern District of Wisconsin alleging violations of the Securities Exchange Act of 1934.
Kohl’s is a United States retail company that offers branded apparel, footwear, accessories, beauty and home products through its stores and website.
In October 2020, Kohl’s announced that it had launched a new strategic framework to “drive sales growth,” “expand operating margin,” and become “the most trusted retailer of choice for active and casual lifestyles” (the “Strategic To plan”).
Plaintiff alleges that throughout the Class Period, Defendants made materially false and misleading statements. In particular, Plaintiff alleges that Defendants failed to disclose among other thingsthat: (i) Kohl’s strategic plan was not well tailored to achieve the Company’s stated goals; (ii) the Defendants overstated the Company’s success in executing its strategic plan; and (iii) Kohl’s had inadequate disclosure controls and procedures, internal controls over financial reporting and corporate governance mechanisms.
On May 19, 2022, Kohl’s issued a press release announcing the company’s results for the first quarter of fiscal 2022, which included, among other things, net sales expected to be just 1% (compared to Wall Street consensus growth of Q1 .94%) and earnings per share rise from $0.11 (missing estimates from…
