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PLCE.US
id: 1121

The Children’s Place (PLCE) Disappointing Q4 Results Case

D. New Jersey
Court
2:24-cv-01182
Case number
16 Mar 2023
Class period Start
08 Feb 2024
Class period End
29 Apr 2024
Lead Plaintiff motion deadline
  • $PLCE stockholder filed a claim vs. The Children’s Place for downplaying aggressive promotions and overstating inventories.
  • Poor Q4 FY23 results in February caused $PLCE to fall 36%, losing $90M+ in shareholder value.
On February 9, 2024, The Children’s Place (PLCE) announced lower Q4 sales than expected, estimated between $454M and $456M.

The Сompany also predicted a Q4 loss of 8-9% due to more promotions, increased e-commerce shipments, and inventory adjustments.

On this news, $PLCE plunged by 36% and lost over $90 million of its market capitalization.

The first $PLCE stockholder filed a claim against The Children’s Place and its leaders, accusing them of the following:
  • They didn't disclose the aggressive promotions and overstated inventory values.
  • This likely harmed the fiscal 2023 financial results.
Considering all the representations, investors have reasons to suspect that The Children’s Place didn't disclose financial issues and was misled about the promotions and inventory values.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
09 February 2024
Filing date
28 February 2024
Lead Plaintiff Deadline
29 April 2024
Judge
Hon. Evelyn Padin
Collecting participants…

Children’s Place Inc

The Children's Place, Inc. operates an omni-channel children's specialty portfolio of brands in North America. It operates through two segments, The Children's Place U.S. and The Children's Place I...

    Ticker
    PLCE.US
    ISIN
    US1689051076
    CIK
    1041859
    Sector
    Consumer Cyclical
    Industry
    Apparel Retail
    Country
    USA
    Address
    500 Plaza Drive, Secaucus, NJ, United States, 07094