Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at G-III Apparel Group, Ltd. ("G-III" or the "Company") (NASDAQ: GIII). G-III together with its subsidiaries, designs, manufactures, imports, and markets a range of outerwear and sportswear apparel to retailers primarily in the United States. The Company was founded in 1956 and is headquartered in New York, New York.
Robbins Umeda LLP's investigation concerns whether certain of G-III's directors and officers breached their fiduciary duties through the manipulation of stock option grant dates with the goal of secretly maximizing profits from the stock options, a practice commonly referred to as "backdating." Our investigation has revealed that certain of G-III's stock option grants to officers and directors were priced at or near the lowest closing price for the month, quarter, and/or year.
If you purchased your shares of G-III's stock prior to April 1999, continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at inquiry@robbinsumeda.com.
Robbins Umeda LLP is a California-based law firm, which has significant experience representing investors in shareholder derivative actions, securities fraud class actions, and merger-related shareholder class actions. For more information about the firm, please go to http://www.robbinsumeda.com.
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Contacts:
Gregory E. Del Gaizo, 800-350-6003
inquiry@robbinsumeda.com
