J.Jill investors may receive additional information about the case by clicking the link "Submit Your Information" above.
According to the complaint, J.Jill operates as a specialty company focused on affluent women in the 40 to 65 age segment.
On or about February 10, 2017, the company filed with the SEC a registration statement on Form S-1 for the IPO, which was subsequently amended and declared effective on March 8, 2017 (the “Registration Statement”). On March 9, 2017, the Registration Statement was used to sell approximately 12.5 million shares of J.Jill common stock to the investing public at $13 per share.
According to the complaint, the Registration Statement communicated that the company’s unique business strategy had insulated it from adverse industry trends and, as a result, J.Jill would be able to continue to grow its gross profits. The complaint asserts that the Registration Statement failed to disclose: (i) that J.Jill’s purportedly unique and superior sales and marketing approach had not insulated the company from adverse trends affecting the overall retail industry; (ii) that J.Jill’s historic gross margin growth was not sustainable and would not continue, as it relied on revenues from shipping fees, increased promotional efforts and other short-term boosts to revenues; (iii) that the company was carrying increasing amounts of slow moving inventory and would need significantly markdown sales items and increase promotional efforts in an attempt to continue its sales growth; (iv) that the company’s brick-and-mortar stores were failing, as they were experiencing difficulty attracting customers and maintaining profitability, which would result in the company shuttering up to eight stores in fiscal 2017, with the rate of store closures accelerating; and (v) that J.Jill’s business, prospects and ability to service its long-term debt had been materially impaired.
If you are a member of the class described above, you may no later than December 12, 2017 move the Court to serve as lead plaintiff of the class, if you so choose.
A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.
Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter. If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at email@example.com. For more information about Kessler Topaz Meltzer & Check, LLP, please visit our website at http://www.ktmc.com. If you would like additional information about the suit, please fill out the attached form as promptly as possible and return it by fax to 610-667-7056, or by mail in the enclosed envelope.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
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