BENSALEM, Pa.--(BUSINESS WIRE)-- Law Offices of Howard G. Smith reminds investors of the upcoming February 21, 2025 deadline to file a lead plaintiff motion in the case filed on behalf of investors who purchased Capri Holdings Limited (“Capri” or the “Company”) (NYSE: CPRI) securities or sold puts between August 10, 2023 and October 24, 2024, inclusive (the “Class Period”).

IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN CAPRI HOLDINGS LIMITED (CPRI), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.

Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at howardsmith@howardsmithlaw.com, by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.

What Happened?

On October 24, 2024, a United States District Court determined that Capri’s merger with Tapestry, Inc. (“Tapestry”) would hurt competition and granted the Federal Trade Commission’s (“FTC”) motion for preliminary injunction, blocking the merger.

On this news, Capri’s stock price fell $20.34, or 48.9%, to close at $21.26 per share on October 25, 2024, thereby injuring investors.

What Is The Lawsuit About?

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) 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 and Tapestry executives; (2) that 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) that Capri and Tapestry internally considered Coach and Michael Kors to be each other’s closest and most direct competitors; (4) that, conversely, Capri and Tapestry did not internally consider their handbag brands to be in direct competition with luxury handbags or mass market handbags; (5) that 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 (6) that, as a result of the foregoing, the risk of adverse regulatory actions and/or the Capri Acquisition being blocked was materially higher than represented by defendants; and (7) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

If you purchased or otherwise acquired Capri securities during the Class Period, you may move the Court no later than February 21, 2025 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements.

Contact Us To Participate or Learn More:

If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: howardsmith@howardsmithlaw.com,
Visit our website at: www.howardsmithlaw.com.

To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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