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Allegations
The filed complaint alleges that The Children's Place, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was engaged in aggressive promotions; (2) as a result, the Company’s inventory values were overstated; (3) the foregoing was reasonably likely to have an adverse impact on fiscal 2023 financial results; and (4) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.