NEW YORK, May 8, 2017 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Vince Holding Corp. ("Vince" or the "Company") (NYSE: VNCE). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/vnce.
The investigation concerns whether Vince and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On December 8, 2016, Vince filed its Form 10-Q with the SEC for the period ended October 29, 2016 expressing that "[t]he Company is currently in the process of transitioning the remainder of the Kellwood systems and services, including…its own enterprise resource planning ("ERP") and supporting systems and related IT support services." Then on April 14, 2017, Vince filed a notification to delay its filing on Form 10-K for fiscal year 2016 and attributed the delay to "the transition from Kellwood, the Company's former parent company, and the integration of the Company's new ERP System with its internal business processes and third-party systems." Following this news, Vince stock dropped $0.25 per share or roughly 19% on April 17, 2017.
On April 28, 2017, Vince announced its fiscal year 2016 results and said in part, that "[r]esults for the fourth quarter came in below our expectations, due primarily to challenges related to our systems conversion." On April 28, 2017, Vince's CEO Brendan Hoffman specified on a call with shareholders that "a lot of the constraint was due to our systems in last three-months not getting a little bit more product out there," and Vince's CFO David Stefko explained on that same call that "our fourth quarter topline sales results did not meet our expectations, primarily due to the challenges we encountered as a result of our complex systems conversion." Following this news, Vince stock dropped $0.35 per share or about 25% on April 28, 2017.
If you are aware of any facts relating to this investigation, or purchased shares of Vince, you can assist this investigation by visiting the firm's site: www.bgandg.com/vnce. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
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