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TAPESTRY, INC.

(TPR)
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Haeggquist & Eck, LLP : Is Investigating Claims Against Directors and Officers of Tapestry, Inc., Owner of Coach, Kate Spade, and Stuart Weitzman

10/29/2020 | 03:29pm EDT

Haeggquist & Eck, LLP, a leading shareholder rights litigation firm, is investigating whether certain directors and officers of Tapestry, Inc. (“Tapestry”) (NYSE: TPR) breached their fiduciary duties to Tapestry and its shareholders. If you are a Tapestry shareholder, you are encouraged to contact Amber Eck at Haeggquist & Eck for additional information.

Tapestry is an international luxury fashion and accessory company, which owns the Coach, Kate Spade, and Stuart Weitzman brands. Haeggquist & Eck (HAE) is investigating whether members of Tapestry’s Board of Directors or senior management failed to manage Tapestry in an acceptable manner, in breach of their fiduciary duties to Tapestry, and whether Tapestry has suffered damages as a result.

Specifically, HAE is investigating whether the Board breached its fiduciary duties by failing to conduct proper due diligence when it promoted Jide Zeitlin to Chair, then to CEO, and whether it fully explored allegations against him regarding past questionable business practices and misconduct relating to a past relationship.

As journalist William Cohan detailed in a ProPublica article published after Zeitlin’s resignation, Zeitlin had, over ten years ago, induced women into doing sometimes nude photography sessions with him by posing as a photographer under an alias. With one of these women, he eventually conducted a sexual affair and admitted to her that he had been using a pseudonym when he first met her and convinced her to take pictures.

In addition, HAE is investigating whether the Board breached its fiduciary duties by ignoring or failing to monitor with respect to sexual harassment at Stuart Weitzman and then retaliating against an employee for reporting the sexual harassment.

What You Can Do

If you are a Tapestry shareholder, you may have legal claims against its directors and officers. If you wish to discuss this investigation, or have questions about your legal rights, please contact attorney Amber Eck at 619-342-8000 or ambere@haelaw.com. There is no cost or obligation to you.

Haeggquist & Eck, LLP is a nationally recognized leader in shareholder rights law. The firm represents individual investors in shareholder derivative lawsuits, and members of the firm have helped shareholders recover more than $1 billion of value for themselves and the companies in which they have invested.


© Business Wire 2020
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Financials (USD)
Sales 2021 5 686 M - -
Net income 2021 816 M - -
Net Debt 2021 258 M - -
P/E ratio 2021 15,3x
Yield 2021 0,32%
Capitalization 12 144 M 12 144 M -
EV / Sales 2021 2,18x
EV / Sales 2022 1,99x
Nbr of Employees 14 850
Free-Float 99,8%
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Technical analysis trends TAPESTRY, INC.
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 53,60 $
Last Close Price 43,55 $
Spread / Highest target 53,8%
Spread / Average Target 23,1%
Spread / Lowest Target -8,15%
EPS Revisions
Managers and Directors
NameTitle
Joanne C. Crevoiserat President, Chief Executive Officer & Director
Scott A. Roe Chief Financial Officer & Head-Strategy
Susan J. Kropf Chairman
Thomas A. Glaser Chief Operating Officer
Ivan M. Menezes Independent Outside Director
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