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Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders ofMovado Group, Inc. (NYSE: MOV) resulting from allegations that Movado may have issued materially misleading business information to the investing public.
So What: If you purchased Movado Group securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
What to do next:To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=38644 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email case@rosenlegal.com for information on the class action.
What is this about: On April 11, 2025, Movado disclosed that it had “[become] aware of allegations of misconduct within the Dubai branch” of its Swiss subsidiary, MGI Luxury Group Sárl, relating to “sales to certain customers in the Middle East, India & Asia Pacific region.” Thereafter, Movado “determined that the former managing director of the Dubai Branch . . . as well as certain employees under his direction, took actions that resulted in an overstatement of sales, premature recognition of sales, and underreporting of credit notes (e.g., sales discounts) owed to customers.” These actions included “the use of a third-party warehouse unknown to the Company's management to facilitate the premature recognition of sales, and the falsification of documents to circumvent internal controls. The conduct occurred over a period of approximately five years[.]” The Company further determined that its financial statements dating back to 2022 require restatements in order to “properly record the extent and timing of sales earned and credits during the relevant time period” and disclosed that management had concluded that “the Company's internal control over financial reporting and disclosure controls and procedures. . .were not effective.”
On this news, Movado's stock price fell, closing at $13.56 per share, a 1.81% decrease from the previous day's closing price of $13.81.
Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.
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Contact Information:
Laurence Rosen, Esq. Phillip Kim, Esq. The Rosen Law Firm, P.A. 275 Madison Avenue, 40th Floor New York, NY 10016 Tel: (212) 686-1060 Toll Free: (866) 767-3653 Fax: (212) 202-3827 case@rosenlegal.com www.rosenlegal.com
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