According to the lawsuit, defendants made false and or misleading statements and/or failed to disclose that:
- Lakeland was experiencing significant, sustained issues with its Pacific Helmets and Jolly businesses, including, inter alia, shipping-related delays, production issues, and slower than expected rollout of new products;
- accordingly, defendants overstated the anticipated and actual positive impact of these businesses on Lakeland’s financial results, as well as the overall strength and quality of Pacific Helmets’ and Jolly’s respective operations;
- Lakeland’s business and financial results were significantly deteriorating because of, inter alia, tariff-related headwinds and timing, certification delays, and material flow issues in its acquired businesses;
- accordingly, defendants overstated the strength of their tariff mitigation measures and “small, strategic, and quick” (“SSQ”) M&A strategy;
- as a result of all the foregoing issues, defendants’ financial guidance was unreliable; and
- as a result, defendants’ public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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