Capri (US:CPRI) Prnewswireยท2025-02-10 10:45Core Viewpoint - The Gross Law Firm has issued a notice to shareholders of Capri Holdings Limited regarding a class action lawsuit alleging misleading statements and omissions related to the accessible luxury handbag market and the acquisition by Tapestry [1][2]. Group 1: Allegations - The complaint alleges that during the class period from August 10, 2023, to October 24, 2024, defendants made materially false and misleading statements about the accessible luxury handbag market [2]. - It is claimed that Capri and Tapestry maintained separate production facilities and supply chains for accessible luxury handbags, distinct from those for luxury or mass market handbags [2]. - The internal competition perception between Coach and Michael Kors was acknowledged, while the brands were not considered in direct competition with luxury or mass market handbags [2]. - The acquisition of Capri by Tapestry was primarily aimed at consolidating brands within the accessible luxury handbag market to reduce competition and increase prices [2]. - The risk of regulatory actions or the acquisition being blocked was allegedly higher than represented by the defendants [2]. Group 2: Next Steps for Shareholders - Shareholders are encouraged to register for the class action by February 21, 2025, to participate in the case without any cost or obligation [3]. - Registered shareholders will receive updates through a portfolio monitoring software throughout the lifecycle of the case [3]. Group 3: Law Firm Background - The Gross Law Firm is a nationally recognized class action law firm focused on protecting investors' rights against deceit and illegal business practices [4]. - The firm aims to ensure companies adhere to responsible business practices and seeks recovery for investors who suffered losses due to misleading statements [4].