OLLIE'S BARGAIN OUTLET HOLDINGS, INC. SAN FRANCISCO, Sept. 11, 2019 /PRNewswire/ -- Hagens Berman notifies investors in Ollie's Bargain Outlet Holdings (NASDAQ: OLLI) of the firm's investigation of possible disclosure violations.
If you invested in OLLI before August 29, 2019 and suffered losses or have information that may assist this investigation contact Hagens Berman:
https://www.hbsslaw.com/investor-fraud/OLLI
or contact Reed Kathrein, who is leading the firm's investigation, by calling 510-725-3000 or emailing
OLLI@hbsslaw.com.
The firm's investigation concerns whether Ollie's concealed significant supply chain and inventory issues are adversely impacting its new stores.
On June 6, 2019, Ollie's announced Q1 2019 financial results and raised full year guidance.
On August 28, 2019, the Company and senior management announced the Company's disappointing Q2 2019 financial results and reduced full year guidance. Management blamed the poor performance on an increase in supply chain expense and reduced merchandise margin. Significantly, management admitted that their knowledge of supply chain issues impacting new stores "existed for most all of Q2 and was corrected basically in the last week of the quarter."
"We're focused on investors' losses and the extent to which senior management misrepresented Ollie's supply chain and inventory management systems," said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Ollie's Bargain Outlet should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email OLLI@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national law with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Contact:
Reed Kathrein, 510-725-3000
View original content to download multimedia:http://www.prnewswire.com/news-releases/olli-investor-alert-hagens-berman-investigating-ollies-bargain-outlet-holdings-olli-for-possible-disclosure-violations-investors-with-losses-should-contact-firm-300916370.html
SOURCE Hagens Berman Sobol Shapiro LLP
