An investigation was announced for investors in NASDAQ:FOSL shares o over potential breaches of fiduciary duties by certain Fossil Group directors.
Investors who purchased shares of Fossil Group Inc (NASDAQ:FOSL) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Fossil Group Inc directors breached their fiduciary duties and caused damage to the company and its shareholders.
Richardson, TX based Fossil Group, Inc. is a design, marketing and distribution company that specializes in consumer fashion accessories. Fossil Group Inc reported that its Total Revenue declined from over $3.22 billion for the 52 weeks period that ended on January 2, 2016 to over $3.04 billion for the 52 weeks period that ended on December 31, 2016 and that its Net Income for those respective time periods declined from $220.64 million to $78.87 million.
On May 9, 2017, Fossil reported a $(48.2) million net loss for the first quarter of fiscal 2017 compared to a profit of $5.8 million for the same quarter in 2016. Diluted (loss) per share was $(1.00), significantly steeper than the $(.27) loss analysts expected. The Company posted revenue of $581.8 million, lower than Wall Street’s estimates for $591 million. Shares of Fossil Group Inc (NASDAQ:FOSL) declined from $36.61 per share in November 2016 to $12.55 per share on May 16, 2017
Those who purchased NASDAQ:FOSL shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
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