#None #San Diego #Robbins LLP #Capri Holdings #CPRI Stock

Important Class Action Notice for Capri Holdings Limited Investors

Investors in Capri Holdings Limited (NYSE: CPRI) should take note of a critical class action lawsuit currently in progress. Robbins LLP has announced that this action, which encompasses anyone who bought or sold CPRI stock between August 10, 2023, and October 24, 2024, is seeking lead plaintiffs. The deadline for potential lead plaintiffs to submit their applications to the court is approaching: February 21, 2025.

Background of the Case

The class action arises from a controversial acquisition deal revealed on August 10, 2023, when Capri Holdings entered a merger agreement with Tapestry, Inc. (NYSE: TPR). Under the terms of the agreement, Tapestry was set to acquire Capri for $57 a share in cash. This merger was seen as a significant consolidation in the luxury fashion sector. However, complications arose when, on April 22, 2024, the Federal Trade Commission (FTC) stepped in with an action to block the merger, citing anti-competitive concerns.

On October 24, 2024, the FTC's efforts culminated in the official blocking of the acquisition. Following this decision, Capri's stock plummeted, dropping to $21.26 a share—a near 50% decline. Such dramatic fluctuations in stock pricing have inevitably raised questions about the information disclosed by the company concerning the potential risks tied to this acquisition.

Allegations Against Capri Holdings

The allegations in this lawsuit suggest that Capri Holdings and Tapestry executives failed to adequately communicate vital information regarding their merger agreement. Certain key points include:

• - Misrepresentation of Market Dynamics: The lawsuit alleges the executives characterized the luxury handbag market inaccurately and did not disclose that the accessible luxury handbag sector is a distinct market.
• - Competition Concerns: According to the complaint, Capri and Tapestry executives internally recognized Coach and Michael Kors as their closest rivals, a point not communicated to shareholders during the merger discussions.
• - Increased Risk of Regulatory Actions: The lawsuit accuses the defendants of downplaying the likelihood of significant regulatory intervention, which ultimately proved to be a huge factor in thwarting the acquisition.

These claims reflect potential violations of investor rights and are critical for those who suffered losses related to their Capri Holdings investments during the specified period.

What Investors Should Do Now

Investor-focused law firm Robbins LLP urges all potential class members impacted by these events to consider participating in the class action lawsuit. For those interested in acting as a lead plaintiff, prompt action is essential. Individuals need to submit their application by the lead plaintiff deadline of February 21, 2025.

Even if investors choose not to actively participate in the lawsuit, they may still be eligible for any possible settlement outcomes as absent class members. Immediate steps to gather more information about their rights in this case can be taken by reaching out to Robbins LLP or signing up for updates online.

About Robbins LLP

Robbins LLP is well-known for its dedication to protecting shareholder rights. The firm's history dates back to 2002, and since that time, it has successfully recovered over $1 billion for investors. With an experienced team ready to assist, Robbins LLP operates on a contingency basis, ensuring that shareholders do not face any fees unless they recover losses linked to their claims.

As the situation develops, it’s crucial for investors to stay informed and proactive. Register for further notifications about this class action and other corporate governance matters by signing up for Stock Watch today.