Lakeland(US:LAKE) Prnewswire·2026-03-18 21:33Core Viewpoint - Robbins LLP has initiated a class action on behalf of investors who acquired Lakeland Industries, Inc. (NASDAQ: LAKE) securities between December 1, 2023, and December 9, 2025, due to allegations of misleading information regarding the integration of recent acquisitions [1][2]. Group 1: Allegations and Issues - The class action alleges that Lakeland Industries failed to disclose significant issues with its Pacific Helmets and Jolly businesses, including shipping delays, production issues, and a slower rollout of new products [2]. - It is claimed that Lakeland overstated the positive impact of these businesses on its financial results and the overall strength of their operations [2]. - The company reportedly faced deteriorating business and financial results due to tariff-related challenges, certification delays, and material flow issues in its acquired businesses [2]. - Defendants allegedly overstated the effectiveness of their tariff mitigation measures and M&A strategy, leading to unreliable financial guidance [2]. Group 2: Financial Performance and Stock Impact - On December 9, 2025, Lakeland reported a Q3 2026 GAAP EPS of -$1.64, missing consensus estimates by $1.93, and revenue of $47.6 million, which was $9.05 million below expectations [3]. - The company attributed its poor performance to timing, certification delays, and material flow issues, as well as tariff-related headwinds, and subsequently withdrew its financial guidance for FY 2026 [3]. - Following these disclosures, Lakeland's stock price fell by $5.85 per share, or 38.97%, closing at $9.16 per share on December 10, 2025 [3]. Group 3: Shareholder Actions - Shareholders interested in participating in the class action must submit their papers to the court by April 24, 2026, to serve as lead plaintiff [4]. - Shareholders can choose to remain absent from the case while still being eligible for recovery [4].