|By Marketwired .||
|October 14, 2013 10:00 PM EDT||
NEW ORLEANS, LA -- (Marketwired) -- 10/14/13 -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until December 10, 2013 to file lead plaintiff applications in a securities class action lawsuit against Urban Outfitters Inc. (NASDAQ: URBN), if they purchased the Company's securities during the period between March 12, 2013 and September 9, 2013, inclusive (the "Class Period"). This action is pending in the Eastern District of Pennsylvania United States District Court.
What You May Do
If you purchased shares of Urban Outfitters and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (email@example.com) or KSF Partner Melinda Nicholson (firstname.lastname@example.org). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by December 10, 2013.
About the Lawsuit
Urban Outfitters and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
On September 9, 2013, the Company disclosed its second quarter financial results, reporting that comparable sales had grown only 5.2% -- far less than the 9% defendants' comments had led the investment community to expect -- and that markdowns had resulted in lowered overall sales revenues. Disappointing third quarter guidance was also issued.
During the Class Period, Company insiders sold millions of Urban Outfitters shares at artificially inflated prices, realizing insider trading proceeds, including President and CEO Richard Hayne, who sold over $50 million worth of shares and COO Freeman Zausner, who sold over $13.8 million worth of shares.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.