Pomerantz Law Firm Announces the Filing of a Class Action Against Lakeland Industries, Inc. and Certain Officers - LAKE

Core Viewpoint - A class action lawsuit has been filed against Lakeland Industries, Inc. and certain officers for alleged violations of federal securities laws during the Class Period from December 1, 2023, to December 9, 2025, seeking damages for investors who acquired Lakeland securities during this time [1]. Group 1: Lawsuit Details - The lawsuit is filed in the United States District Court for the Southern District of New York, aiming to recover damages under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 [1]. - Investors have until April 24, 2026, to request appointment as Lead Plaintiff for the class [1]. Group 2: Company Overview - Lakeland Industries, Inc. manufactures and sells industrial protective clothing and accessories globally, employing a "small, strategic, and quick" mergers and acquisitions strategy to drive growth [1]. - The company acquired Pacific Helmets NZ Limited in November 2023 and Jolly Scarpe S.p.A. in February 2024, both of which were touted as significant enhancements to Lakeland's product portfolio [1]. Group 3: Financial Performance and Misstatements - Throughout the Class Period, Lakeland's executives made optimistic statements regarding the company's financial performance, including expected adjusted EBITDA of $18 million to $21.5 million for FY 2025 and revenue of $210 million to $220 million for FY 2026 [1]. - The lawsuit alleges that the executives made materially false and misleading statements about the company's operations, including issues with the Pacific Helmets and Jolly businesses, which were not disclosed to investors [1][2]. - Following disappointing financial results, including a Q4 FY 2025 GAAP EPS of -$2.42 and a Q1 FY 2026 GAAP EPS of -$0.41, Lakeland's stock price experienced significant declines [2]. Group 4: Stock Price Impact - On September 5, 2024, Lakeland's stock fell by 7.82% to $21.92 per share after missing revenue estimates [2]. - Subsequent financial disclosures led to further declines, including a 14.33% drop to $15.72 per share on April 10, 2025, and a 22.16% drop to $15.07 per share on June 10, 2025 [2]. - The most significant drop occurred on December 10, 2025, when the stock price fell by 38.97% to $9.16 per share after the company withdrew its financial guidance for FY 2026 [2].