Genesco faces court action
It’s not been a good few months for American footwear retailer Genesco since the collapse of its planned merger with The Finish Line in August. And it appears that it’s about to get an awful lot worse following an announcement by law firm
Coughlin Stoia Geller Rudman & Robbins LLP that a class action is now being brought against the company on behalf of purchasers of its common stock during the period between April 20 and November 26 this year.
The complaint alleges that during the period in question Genesco made false and misleading statements concerning its business and prospects and is seeking damages on behalf of all those that purchased shares in the company at the time.
The Finish Line backed out of its proposed merger with Genesco in August when the company reported much lower than anticipated financial results.
