NEW YORK, NY / ACCESSWIRE / October 13, 2023 / Pomerantz LLP is investigating claims on behalf of investors of Duluth Holdings Inc. ("Duluth" or the "Company") (NASDAQ:DLTH). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.comor 888-476-6529, ext. 7980.
The investigation concerns whether Duluth and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On August 31, 2023, Duluth issued a press release announcing its second quarter financial results. Among other items, Duluth disclosed that the Company's net sales decreased by 1.7% during the quarter to $139.1 million, while retail store sales decreased by 7.0% to $52.3 million due to slower store traffic. Duluth also announced that the Company's Chief Financial Officer and Senior Vice President Dave Loretta had chosen to resign from his roles at Duluth to accept an employment opportunity outside the Company.
On this news, Duluth's stock price fell $0.98 per share, or 13.35%, to close at $6.36 per share on August 31, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
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SOURCE: Pomerantz LLP
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