OLLI Investor Alert: Hagens Berman Investigating Ollie’s Bargain Outlet Holdings (OLLI) For Possible Disclosure Violations, Investors With Losses Should Contact Firm
Class-action law firm urges OLLI investors to learn their shareholder rights against Ollie’s Bargain Outlet Holdings to recover investment losses
San Francisco - 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:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
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.
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Reed Kathrein, 510-725-3000
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