- 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.
Disgruntled shareholders sue Francesca's
Oct 14 2013, 10:58 ET