V.F. Corporation Common Stock (NYSE: VFC)
The V.F. Corporation class action lawsuit alleges that defendants created the false impression that they possessed reliable information pertaining to V.F. Corporation’s projected revenue outlook and anticipated growth while also minimizing risk from seasonality and macroeconomic fluctuations. In truth, according to the complaint, V.F. Corporation’s optimistic reports of growth, cost-cutting measures, and overall claims of positive trajectory of the Vans brand fell short of reality; and, despite a significant inventory reset to begin the turnaround process under Reinvent, V.F. Corporation was apparently unable to find a path to Vans growth that did not require additional significant restructuring to create a potentially sustainable growth model.