Class Action Against Capri Holdings: Join Before the Deadline of February 21, 2025

Join the Class Action Against Capri Holdings Limited

Levi & Korsinsky, LLP has announced a significant class action lawsuit aimed at recovering losses for investors of Capri Holdings Limited (NYSE: CPRI). This legal initiative is crucial for anyone affected by the alleged securities fraud that occurred between August 10, 2023, and October 24, 2024. If you invested in Capri Holdings during this period, you could be eligible for compensation—provided you take action before the deadline of February 21, 2025.

What Are the Allegations?

The lawsuit alleges that Capri Holdings and its executives made multiple misleading statements regarding the company's position in the market. Specifically, the complaint details the following key points:

1. Definition of Market: The complaint claims that Capri Holdings leaders understood the “accessible luxury handbag market” to be a distinct segment within the broader handbag market, contrary to the company’s public claims.

2. Production and Supply Chains: It is alleged that Capri and Tapestry (the parent company) operated separate production facilities and supply chains for their accessible luxury handbags—differentiating them from luxury and mass-market handbags, contrary to statements made publicly.

3. Competitor Relations: Internally, Capri and Tapestry viewed Coach and Michael Kors as their closest competitors, yet publicly downplayed the competitive dynamics between these brands and luxury or mass-market handbags.

4. Rationale for the Acquisition: The acquisition of Capri by Tapestry was purportedly aimed at reducing competition within the accessible luxury handbag market, ostensibly to increase prices and improve profit margins. These intentions seem to contradict the representations made to investors about the risks involved in the acquisition.

5. Regulatory Actions: The lawsuit also asserts that as a result of the above, the risks related to regulatory actions were significantly downplayed in communications with shareholders.

Why Should You Join?

If you’ve experienced financial losses while investing in Capri Holdings during the specified timeframe, your opportunity to take action is dwindling. By participating in this class action, you not only stand to potentially recover your losses but also contribute to holding the company accountable for transparent financial practices.

No Cost To Participate

Importantly, there is no cost for affected investors to join this class action. If you are a class member, you may be entitled to compensation without incurring out-of-pocket expenses or legal fees. Participating involves no obligation, allowing you to secure your rights with minimal risk.

Next Steps

Investors interested in joining the class action should act promptly to assert their rights. The last date to request appointment as lead plaintiff is February 21, 2025. However, note that you do not need to serve as lead plaintiff to be eligible for recovery.

For more information or to proceed with joining the class action, investors can contact Joseph E. Levi, Esq. at Levi & Korsinsky, LLP, via email or phone at (212) 363-7500.

A Proven Track Record

Levi & Korsinsky is well-recognized in the field of securities litigation, having secured hundreds of millions for investors harmed by serious issues stemming from public companies. With a dedicated team focused on investor protection and a history of success, they stand ready to support affected investors.

Don’t miss your chance to stand up against alleged corporate misconduct. Take action today to protect your investment in Capri Holdings.