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The filed complaint alleges that G-III Apparel Group, Ltd. made materially false and/or misleading statements and/or failed to disclose that: The $17.5 million bad-debt charge stems from the Saks bankruptcy, which had been publicly teased throughout 2025 starting with a February 2025 memo announcing an 18-month backlog. G-III's Q3 FY 2026 earnings call took place on December 9, 2025 when CEO Morris Goldfarb stated that the company was "taking a prudent approach to our outlook" and that results reflected "healthy consumer demand." CFO Neal Nackman raised full-year non-GAAP EPS guidance to $2.80-$2.90. The earnings call did not disclose a pending bad-debt charge related to Saks. When actual FY 2026 results were reported on March 12, 2026, Non-GAAP EPS came in at $2.61 -- a shortfall of $0.19 to $0.29 versus the raised guidance range blamed entirely on Saks Global's bankruptcy. The company also disclosed the loss of PVH-licensed revenue, which triggered a GAAP Net Income of only 67.4m, a 45% shortfall against the midpoint of December's guidance. Shares fell approximately 11.4% in a single session.
In order to be eligible to join the GIII class action lawsuit, you must have incurred a loss on shares of G-III Apparel Group, Ltd. purchased during the class period listed above.
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