Disgruntled shareholders sue Francesca's

A group of shareholders file a lawsuit against Francesca's (FRAN +2%) over alleged security violations.

In the complaint, the retailer stands accused of failing to disclose the level of discounting it undertook in Q1 just to meet financial targets.

Shares of FRAN are down 41% over the last 90 days with a Q2 earnings miss helping to account for a good portion of the decline.

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