CAPRI ALERT: Bragar Eagel & Squire, P.C. Announces that a Class Action Lawsuit Has Been Filed Against Capri Holdings Limited and Encourages Investors to Contact the Firm

Core Viewpoint - A class action lawsuit has been filed against Capri Holdings Limited, alleging misleading statements regarding the accessible luxury handbag market and the implications of its acquisition strategy [1][3]. Group 1: Lawsuit Details - The lawsuit is on behalf of all individuals and entities who purchased Capri securities between August 10, 2023, and October 24, 2024 [1]. - Investors have until February 21, 2025, to apply to be appointed as lead plaintiff in the lawsuit [1]. Group 2: Allegations Against Capri - The lawsuit claims that Capri and Tapestry executives failed to disclose that the accessible luxury handbag market is a distinct market, and they maintained separate production facilities and supply chains for this market [3]. - It is alleged that Capri and Tapestry viewed Coach and Michael Kors as their closest competitors, while not considering their brands to be in direct competition with luxury or mass market handbags [3]. - The lawsuit suggests that a primary reason for the Capri acquisition was to consolidate brands within the accessible luxury handbag market to reduce competition and increase prices [3]. Group 3: Court Ruling and Market Impact - On October 24, 2024, a U.S. District Court judge granted a motion to preliminarily enjoin the Capri acquisition, citing substantial evidence that contradicted public statements made by the defendants [4]. - Following the court's decision, Capri's stock price fell by nearly 50% [4].