Seeking Alpha

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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