NEW YORK, April 29, 2016 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Tailored Brands, Inc. (“Tailored Brands” or the “Company”) (NYSE:TLRD) of the May 31, 2016 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of Texas on behalf of all those who purchased Tailored Brands securities between June 18, 2014 and December 9, 2015 (the “Class Period”).  The case, Makhlouf v. Tailored Brands, Inc. et al., No. 4:16-cv-00838 was filed on March 29, 2016, and has been assigned to Judge Melinda Harmon.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to appropriately disclose the sales weakness of Jos A. Bank Clothiers, Inc (“Jos A. Bank”) during Jos A. Bank’s acquisition by the Company.

However, on November 5, 2015, the Company disclosed poor preliminary results for the third quarter of 2015, citing sales weakness at Jos. A Bank stores. Tailored Brands also announced that fourth quarter expected sales were cut by 20-25% from the same period in the previous year. On this news, share closing price fell from $40.10 per share on November 4, 2015 to a closing price of $22.70 on November 5, 2015—a $17.40 or a ~43.39% drop.

Then, on December 9, 2015, the Company disclosed third quarter earnings that were actually worse than anticipated in November, notifying investors that sales at Jos. A Bank were on pace to be below 35% in the fourth quarter.  On this news, share closing price fell from $18.97 per share on December 9, 2015 to a closing price of $15.27 on December 10, 2015—a $3.30 or a ~17.77% drop.

Request more information now by clicking here: www.faruqilaw.com/TLRD. There is no cost or obligation to you.

Take Action

If you invested in Tailored Brands stock or options between June 18, 2014 and December 9, 2015 and would like to discuss your legal rights, visit www.faruqilaw.com/TLRD.  You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Tailored Brands’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class that is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. 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. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. 

Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.

FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn:  Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330