The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of Wisconsin on behalf of investors who purchased Kohl's Corporation (NYSE: KSS) securities between October 20, 2020 and May 19, 2022.
According to the Kohl's lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) Kohl’s new strategic framework to “drive top-line growth,” “expand operating margin,” and become “the most trusted retailer of choice for the active and casual lifestyle” (the “Strategic Plan”) was not well tailored to achieving the Company’s stated goals; (ii) the defendants had likewise overstated the Company’s success in executing its Strategic Plan; (iii) Kohl’s had deficient disclosure controls and procedures, internal control over financial reporting, and corporate governance mechanisms; (iv) as a result, the Company’s board of directors was able to and did withhold material information from shareholders about the state of Kohl’s in the lead-up to the Company’s annual meeting; (v) all the foregoing, once revealed, was likely to have a material negative impact on Kohl’s financial condition and reputation; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in Kohl's you have until November 1, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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