MOV Investor News: Rosen Law Firm Encourages Movado Group, Inc. Investors to Inquire About Securities Class Action Investigation - MOV

Core Viewpoint - Rosen Law Firm is investigating potential securities claims on behalf of shareholders of Movado Group, Inc. due to allegations of materially misleading business information issued by the company [1] Group 1: Allegations and Company Response - On April 11, 2025, Movado disclosed allegations of misconduct within its Dubai branch, related to sales practices in the Middle East, India, and Asia Pacific [3] - The company identified actions taken by the former managing director and certain employees that resulted in an overstatement of sales, premature recognition of sales, and underreporting of credit notes owed to customers [3] - Movado's financial statements dating back to 2022 will require restatements to accurately reflect sales and credits, indicating ineffective internal controls over financial reporting [3] Group 2: Stock Market Reaction - Following the news of the allegations, Movado's stock price fell to $13.56 per share, marking a 1.81$13.81 [3] Group 3: Legal Action and Investor Rights - Investors who purchased Movado Group securities may be entitled to compensation through a class action lawsuit, with no out-of-pocket fees due to a contingency fee arrangement [2] - The Rosen Law Firm is preparing a class action to seek recovery of investor losses and encourages affected investors to join the action [2]