V.F. Corporation (VFC)
Bronstein, Gewirtz & Grossman, LLC Announces Investigation of V.F. Corporation (VFC)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of V.F. Corporation (“VF” or the Company”) (NYSE: VFC). The investigation concerns whether VF and certain of its officers and/or directors have violated federal securities laws.
On January 23, 2020, VF announced its financial results for the third quarter of 2020. For the quarter, VF reported net revenue of $3.38 billion, falling short of the average analyst estimate of $3.43 billion. In addition, the Company provided an annual revenue estimate of $11.75 billion, down from its prior forecast of $11.8 billion. Speaking on a conference call later that day, VF’s Chief Financial Officer Scott Roe disclosed that the Company intended to sell its Occupational Work Brands, stating that “[f]rom a financial standpoint the occupational work brands contributed about $865 million of revenue and $130 million of adjusted operating income in fiscal 2019.” On this news, VF’s stock price fell $9.16 per share, or 9.69%, to close at $85.41 per share on January 23, 2020.
If you are aware of any facts relating to this investigation, or purchased VF shares, you can assist this investigation by contacting 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.