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The filed complaint alleges that The Cato Corporation made materially false and/or misleading statements and/or failed to disclose that: Cato issued a press release on November 22, 2024, stating that "[i]n light of the current economic conditions and current sales trends the Board of Directors of [Cato] suspended the regular quarterly dividend." Following this news, Cato's stock price fell sharply during intraday trading.
In order to be eligible to join the CATO class action lawsuit, you must have incurred a loss on shares of The Cato Corporation purchased during the class period listed above.
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