Shareholder Rights Law Firm Robbins LLP Reminds Investors of the CPRI Class Action and Urges Investors with Large Losses to Contact the Firm for Information About Participating in the Case

Core Viewpoint - A class action lawsuit has been filed against Capri Holdings Limited, alleging that the company misled investors regarding the viability of its acquisition by Tapestry, Inc. [1][2] Group 1: Acquisition Details - Capri and Tapestry announced a merger agreement on August 10, 2023, with Tapestry set to purchase Capri for $57 per share in cash [2] - On October 25, 2023, Capri's shareholders voted to approve the merger agreement [2] Group 2: Regulatory Challenges - The FTC filed an action on April 22, 2024, to block the acquisition, claiming it would eliminate competition between brands like Kate Spade, Coach, and Michael Kors [3] - The acquisition was ultimately blocked by the FTC on October 24, 2024, leading to a nearly 50$21.26 per share [3] Group 3: Allegations of Misleading Information - The complaint alleges that Capri and Tapestry failed to disclose that the accessible luxury handbag market is a distinct market and that they considered Coach and Michael Kors as their closest competitors [4] - It is claimed that the internal rationale for the acquisition was to consolidate brands within the accessible luxury handbag market to reduce competition and increase prices [4] - The risk of regulatory actions and the acquisition being blocked was allegedly higher than what was represented to investors [4]