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If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Darren Robbins of Coughlin Stoia at 800-449-4900 or 619-231-1058, or via e-mail at djr@csgrr.com. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.csgrr.com/cases/coach/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Coach and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Coach engages in the design and marketing of accessories and gifts for men and women in the United States and internationally.
The complaint alleges that during the Class Period, defendants reported strong growth for the Company and forecast similar growth going forward. However, defendants failed to disclose that the Company's growth rate was, in fact, unsustainable. Then, on October 23, 2007, before the market opened, Coach announced that although its fiscal first-quarter profit rose 23%, traffic in its U.S. retail stores was weak and the Company expected a slow-down in the coming holiday season. As a result of this announcement, Coach's stock price dropped $4.87 per share (or 12%) to close at $36.60 per share on October 23, 2007.
Plaintiff seeks to recover damages on behalf of all purchasers of Coach publicly traded securities during the Class Period (the "Class"). The plaintiff is represented by Coughlin Stoia, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Coughlin Stoia, a 190-lawyer firm with offices in San Diego, San Francisco, Los Angeles, New York, Boca Raton, Washington, D.C., Philadelphia and Atlanta, is active in major litigations pending in federal and state courts throughout the United States and has taken a leading role in many important actions on behalf of defrauded investors, consumers, and companies, as well as victims of human rights violations. The Coughlin Stoia Web site (http://www.csgrr.com) has more information about the firm.
SOURCE: Coughlin Stoia Geller Rudman & Robbins LLP
Coughlin Stoia Geller Rudman & Robbins LLP Darren Robbins, 800-449-4900 or 619-231-1058 djr@csgrr.com
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