LOS ANGELES--()--The Law Offices of Todd M. Garber announces that shareholders of Body Central Corporation (“Body Central” or the “Company”) (NASDAQ:BODY) have until October 29, 2012 to move for lead plaintiff status in the shareholder lawsuit filed in the United States District Court for the Middle District of Florida. The lawsuit was filed on behalf of a class (the “Class”) comprising all persons or entities who purchased the common stock of Body Central between November 10, 2011 and June 18, 2012, inclusive (the “Class Period”).
“will continue into the third quarter with some impact to gross margin.”
Body Central operates as a specialty retailer of young women’s apparel and accessories in the south, mid-Atlantic and Midwest United States, with specialty apparel stores under the Body Central and Body Shop banners. On June 18, 2012 the Company announced “revised sales and earnings guidance for its second quarter and full year 2012.” According to the Company, the revision was a result of “recent sales trends,” which the Company expects “will continue into the third quarter with some impact to gross margin.”
The Complaint alleges that the Company and certain of its executive officers misrepresented and/or failed to disclose material adverse facts concerning Body Central’s financial performance and prospects, including that: (1) the Company's “merchandise miss” was not an isolated event, it would take at least several quarters to remedy and would have a material negative impact on the Company's financial results; (2) the Company’s stores were experiencing increasingly poor performance and financial results; (3) defendants issued materially false and misleading statements regarding the Company’s operations and its business and financial results and outlook; and (4) based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company or its revenue outlook.
If you are a member of the above-described Class, you may move the Court no later than October 29, 2012 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time. You may retain counsel of your choice or take no action and remain an absent Class member. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Todd M. Garber, Esquire, of the Law Offices of Todd M. Garber, by telephone at 213-700-7262 or by email to firstname.lastname@example.org.
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