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Robbins Arroyo LLP: Vince Holding Corp. (VNCE) Misled Shareholders According to a Recently Filed Shareholder Lawsuit

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Shareholder rights law firm Robbins
Arroyo LLP
announces that purchasers of Vince Holding Corp. (NYSE: VNCE) have filed a class action complaint against the company's officers
and directors for alleged violations of the Securities Exchange Act of
1934 between March 19, 2015 and May 19, 2017. Vince is a luxury clothing
brand based in New York City.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/vince-holding-sept-2018/

Vince Mislead Investors Regarding its Systems Migration Efforts

According to the complaint, Vince made a series of misstatements and bad
business decisions that resulted in a devastating loss of market value
for the company. Vince is majority owned and controlled by private
equity firm Sun Capital Partners, Inc. and its affiliates, and was
formed from assets of Kellwood Company, which was wholly-owned by Sun
Capital. After the initial offering, Vince relied on certain
administrative, financial, operational, and other support services
provided by Kellwood. Eventually, Vince migrated these services to its
own systems and those provided by third parties. Despite assurances from
company executives that the transition was a smooth one, in reality,
issues with the new systems impeded the ability of stores to timely
process credit card transactions, and resulted in delivery delays,
inventory systems failures, and lost customer transactional data. As the
quality of the customers' experience with the company deteriorated,
Vince's sales plummeted. Vince belatedly acknowledged the implications
of its migration efforts after sales and earnings shortfalls, and warned
that the new systems had led to one or more material weaknesses in its
internal controls over financial reporting and systems infrastructure.
Vince's market capitalization, estimated at more than $1 billion
following the IPO, was valued at just over $47 million and at risk of
being delisted from the New York Stock Exchange at the end of the class
period.

Vince Shareholders Have Legal Options

Concerned shareholders who would like more information about their
rights and potential remedies can contact attorney Leonid Kandinov at
(800) 350-6003, LKandinov@robbinsarroyo.com,
or via the shareholder
information form
on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional investors
in shareholder derivative and securities class action lawsuits, and has
helped its clients realize more than $1 billion of value for themselves
and the companies in which they have invested. Sign up for our FREE
portfolio monitoring service, Stock
Watch
.

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