Globenewswire·2026-02-24 17:33Core Viewpoint - A securities fraud lawsuit has been filed against Lakeland Industries, Inc. and certain executives for allegedly misleading investors regarding the company's acquisitions and failing to disclose significant operational issues that affected financial guidance [1][2]. Group 1: Lawsuit Details - The lawsuit was filed in the United States District Court for the Southern District of New York, alleging violations of federal securities laws [2]. - The complaint claims that the defendants misled investors by promoting the benefits of the Pacific Helmets and Jolly acquisitions while not disclosing production and shipping delays, certification issues, and tariff-related challenges that negatively impacted results [2]. - Following a significant earnings miss reported on December 9, 2025, Lakeland withdrew its FY2026 guidance, leading to a nearly 39% drop in share price the next day [2]. Group 2: Investor Eligibility - Investors who purchased Lakeland Industries, Inc. common stock between December 1, 2023, and December 9, 2025, and experienced a decline in share value may be eligible to participate in the lawsuit [3]. Group 3: Next Steps for Investors - The deadline to seek appointment as lead plaintiff is April 24, 2026, and a class has not yet been certified [4]. - Investors can choose to remain absent class members if they take no action, but those who have lost money are encouraged to contact Block & Leviton for more information [4]. Group 4: Whistleblower Information - Individuals with non-public information about Lakeland Industries, Inc. are encouraged to assist in the investigation or file a report with the SEC under the whistleblower program, potentially receiving rewards of up to 30% of any successful recovery [5]. Group 5: About Block & Leviton - Block & Leviton is recognized as a leading securities class action firm, having recovered billions for defrauded investors and representing many top institutional investors [6].