Thieler Law Corp advises investors with losses exceeding $100,000 of the August 6, 2019 lead plaintiff deadline in a class action lawsuit filed against Ascena Retail Group Inc (NASDAQ: ASNA) (“Ascena” or “the Company”). The suit is pending in the U.S. District Court for the District of New Jersey and investors, who purchased Ascena Retail Group Inc securities between September 16, 2015 and June 8, 2017, have until August 6, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Ascena Retail Group Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that the Company’s acquisition of ANN, Inc., the parent company of Ann Taylor and LOFT, was a complete disaster for the Company as ANN’s operations were in far worse condition than had been represented to the public; to mask the true condition of ANN, Defendants improperly delayed recognizing an impairment charge to the value of ANN’s goodwill and, as a result, Ascena’s reported income and assets were materially overstated and the Company’s financial results were not prepared in conformity with GAAP; many of the brands acquired in the ANN Acquisition were in steep decline and were also materially overvalued on Ascena’s Class Period financial statement; and defendants’ positive statements about Ascena’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On May 18, 2015, Ascena revealed that it would acquire ANN Inc. for a combination of cash and stock.

On September 19, 2016, Ascena filed a Form 10-K for fiscal year ended July 30, 2016, that reported $733.9 million goodwill related to ANN, which is a $225.7 million reduction.

Following this news, NASDAQ: ASNA fell $2.43, or nearly 30%, to close at $5.69 on September 20, 2016, thereby injuring investors.

On May 17, 2017, Ascena revised its third quarter and full fiscal year 2017 sales and earnings outlook, further noting that the Company would be taking an unspecified impairment charge.

Following this news, NASDAQ: ASNA fell $0.76, or nearly 27%, to close at $2.06 on May 18, 2017, thereby further injuring investors.

On June 8, 2017, Ascena revealed in a press release that its third quarter financial results, reporting a GAAP loss of $5.29 per diluted share compared to net earnings of $0.08 per diluted share for the same period in the year prior. The loss included a $1.324 billion impairment charge to the Company’s goodwill and other intangible assets.

If you were negatively impacted by your investment in Ascena Retail Group Inc securities between September 16, 2015 and June 8, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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