Lakeland Industries, Inc. Class Action Lawsuit – LAKE

The filed complaint alleges that Lakeland Industries, Inc. made materially false and/or misleading statements and/or failed to disclose that: (i) Lakeland was experiencing significant, sustained issues with its Pacific Helmets and Jolly businesses, including, inter alia, shipping-related delays, production issues, and slower than expected rollout of new products; (ii) accordingly, defendants overstated the anticipated and actual positive impact of these businesses on Lakeland’s financial results, as well as the overall strength and quality of Pacific Helmets’ and Jolly’s respective operations; (iii) Lakeland’s business and financial results were significantly deteriorating because of, inter alia, tariff-related headwinds and timing, certification delays, and material flow issues in its acquired businesses; (iv) accordingly, defendants overstated the strength of their tariff mitigation measures and SSQ M&A strategy; (v) as a result of all the foregoing issues, defendants’ financial guidance was unreliable; and (vi) as a result, defendants’ public statements were materially false and misleading at all relevant times.