NEW YORK, Feb. 25, 2026 (GLOBE NEWSWIRE) -- Bronstein, Gewirtz & Grossman, LLC, a nationally recognized investor-rights law firm, announces that a class action lawsuit has been filed against Lakeland Industries, Inc. (NASDAQ: LAKE) and certain of its officers. This lawsuit seeks to recover damages against Defendants for alleged violations of the federal securities laws on behalf of all persons and entities that purchased or otherwise acquired Lakeland securities between December 1, 2023 and December 9, 2025 ...

Core Viewpoint - Navan, Inc. is facing a class action lawsuit related to its October 31, 2025 IPO, with investors having until April 24, 2026, to file a lead plaintiff motion [1]. Group 1: Legal Action - The Portnoy Law Firm is advising Navan investors to join a class action lawsuit concerning securities purchased during the IPO [1]. - Investors can contact attorney Lesley F. Portnoy for legal rights discussions and case evaluations [2]. Group 2: Allegations Against Defendants - The lawsuit alleges that the defendants made false and misleading statements regarding Lakeland's business operations, particularly concerning issues with the Pacific Helmets and Jolly businesses [3]. - Specific allegations include significant shipping delays, production issues, and a slower rollout of new products, which were not disclosed [3]. - The defendants are accused of overstating the financial impact of these businesses and the overall strength of their operations [3]. - The lawsuit claims that Lakeland's financial results were deteriorating due to tariff-related challenges and other operational issues [3]. - It is alleged that the defendants' financial guidance was unreliable due to these issues, leading to materially false public statements [3].

LOS ANGELES, Feb. 24, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Lakeland Industries, Inc., (“Lakeland” or the "Company") (NASDAQ: LAKE) investors off a class action on behalf of investors that bought securities between December 1, 2023 and December 9, 2025, inclusive (the “Class Period”). Lakeland investors have until April 24, 2026 to file a lead plaintiff motion. Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss th ...

BOSTON, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Block & Leviton announces that a securities fraud lawsuit has been filed against Lakeland Industries, Inc. (Nasdaq: LAKE) and certain of its executives. Investors who have lost money in their Lakeland Industries, Inc. investment should contact the firm to learn more about how they might recover those losses. For more details, visit https://blockleviton.com/cases/lake. What is this all about? A case has been filed in the United States District Court for the Southern ...

ATLANTA, Feb. 24, 2026 (GLOBE NEWSWIRE) -- A shareholder class action lawsuit has been filed against Lakeland Industries, Inc. (“Lakeland” or the “Company”) (NASDAQ: LAKE). The lawsuit alleges that Defendants issued false and misleading statements and/or failed to disclose material adverse facts regarding Lakeland’s business, operations, and prospects, including allegations that: (1)  Lakeland was experiencing significant, sustained issues with its Pacific Helmets and Jolly businesses, including, inter alia ...

NEW YORK, Feb. 24, 2026 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities who purchased or otherwise acquired Lakeland Industries, Inc. (“Lakeland” or the “Company”) (NASDAQ: LAKE) securities between December 1, 2023, and December 9, 2025, inclusive (the “Class Period”). The Complaint alleges that Defendants failed to disclose to investors ...

Financial Data and Key Metrics Changes - The company achieved record net sales of $46.7 million, representing a 29% year-over-year increase, driven by a 100% increase in fire services products [4][15] - Consolidated gross margin decreased to 33.5% from 44.6% for the comparable period [15][19] - Net loss was $3.9 million or $0.41 per share, compared to net income of $1.7 million or $0.22 per share for the same period last year [16][21] - Adjusted EBITDA excluding FX was $600,000, a decrease of $3.2 million or 84% compared to the prior year [21][24] Business Line Data and Key Metrics Changes - Fire services segment grew by 100% year-over-year, contributing $10.5 million to the revenue increase [17][27] - Organic revenue increased by $600,000 or 2% to $36.9 million, with strong growth in the U.S. and Europe, partially offset by declines in Latin America and Canada [18][26] - U.S. net sales increased 42% year-over-year to $22.5 million, with organic growth of $2.1 million or 15% [5][27] - European net sales increased 102% year-over-year to $12.1 million [5][26] Market Data and Key Metrics Changes - Latin American operations saw a 12% decrease in sales year-over-year, primarily due to shipment timing and tariff impacts [26][64] - Sales in Asia increased by 15% year-over-year, indicating positive growth in that region [26] - The company experienced lower sales in Canada and delays in Latin America due to tariff uncertainties [7][12] Company Strategy and Development Direction - The company is focused on accelerating growth within the fragmented $2 billion fire protection sector and enhancing customer relationships [4][8] - A new company-wide SAP ERP system is being implemented to modernize and consolidate operations [6][7] - The company aims to navigate tariff uncertainties while pursuing strategic acquisitions to consolidate the fragmented fire market [13][32] - Long-term strategies include growing both fire services and industrial PPE verticals while maintaining operational efficiencies [32][33] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating tariff uncertainties and expects sequential growth in gross margins and adjusted EBITDA in the second quarter [9][13] - The company anticipates revenue between $210 million to $220 million for the fiscal year, trending towards the lower end of adjusted EBITDA guidance due to near-term order delays [30][33] - Management remains optimistic about the recovery of sales in higher-margin regions once tariff uncertainties subside [12][64] Other Important Information - Capital expenditures for the quarter were $1.2 million, primarily related to the new ERP system [6][29] - The company ended the quarter with cash and cash equivalents of approximately $18.6 million and long-term debt of $24.7 million [29] Q&A Session Summary Question: Can you elaborate on the impact of purchase variance and amortization on gross margins? - The total increase to manufacturing costs was close to $3 million, significantly impacting adjusted EBITDA, with about a 1% impact on gross margins from purchase accounting [36][38][41] Question: What are the expectations for operating expenses moving forward? - Travel expenses were notably high in Q1 due to various events, but are expected to decrease. Increased SG&A was also attributed to higher labor costs and freight related to inventory movements [43][46][47] Question: How is the head-to-toe strategy progressing? - The company is seeing greater engagement and opportunities in the market, particularly with the glove strategy from the Meridian acquisition, and is focused on bundling products for comprehensive offerings [50][52][56] Question: What are the expectations for organic growth for the full year? - The company expects organic growth to remain in the high single digits, with strong growth in the U.S. offset by declines in Latin America and Canada [63][64] Question: Will the Jolly order be crucial for achieving revenue goals? - The Jolly order is important but not the sole determinant for revenue goals, with ongoing positive engagement with the Italian government regarding procurement [66][67] Question: What is the expected cadence for EBITDA improvement throughout the year? - Improvement is expected in the second quarter, with a gradual increase in EBITDA as inventory issues and cost containment efforts normalize [68][69]