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 New York on behalf of investors who purchased The Gap, Inc. (NYSE: GPS) securities between November 24, 2021 and July 11, 2022.
According to the The Gap lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) there were execution missteps in size and assortment at Old Navy related to BODEQUALITY, the Company's size-inclusivity campaign, which were adversely impacting Old Navy’s margins and financial results; (2) contrary to the Company’s statements, there were inventory risks relating to BODEQUALITY that were adversely affecting the Company’s operations; and as a result (3) the Company’s statements during the class period about the historical financial and operational metrics and purported market opportunities did not accurately reflect the actual business, operations, and financial results and trajectory of the Company, and were materially false and misleading and lacked a factual basis.
If you suffered a loss in The Gap you have until February 3, 2023 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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