Canada Goose Holdings Inc. (NYSE: GOOS) Investor Securities Class Action Lawsuit 09/03/2019

If you purchased a significant amount of shares of Canada Goose Holdings Inc. (NYSE: GOOS) between March 16, 2017 and August 1, 2019, and / or if you purchased any NYSE: GOOS shares prior to March 2017 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: November 4, 2019. NYSE: GOOS investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Canada Goose Holdings
Case Name: 
Canada Goose Holdings Shareholder Class Action Lawsuit 09/03/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: GOOS
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
09/03/2019
Class Period Begin: 
03/16/2017
Class Period End: 
08/01/2019
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
11/04/2019
Summary: 

An investor in shares of Canada Goose Holdings Inc. (NYSE: GOOS) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Canada Goose Holdings Inc. in connection with certain allegedly false and misleading statements made between March 16, 2017 and August 1, 2019.

Toronto, Canada based Canada Goose Holdings Inc. designs, manufactures, and sells premium outdoor apparel for men, women, youth, children, and babies.

On November 2, 2017, the non-profit organization People for the Ethical Treatment of Animals (“PETA”) issued an announcement alleging that Canada Goose Holdings Inc suppliers used unethical measures to obtain the down and fur used in creating the Company’s clothing merchandise (). The PETA announcement also stated that PETA had issued a complaint to the FTC regarding these practices because the Company represented in communications and promotional materials that its clothing was produced with down and fur from sources that treated the animals used in sourcing those materials ethically and humanely.

Shares of Canada Goose Holdings Inc. (NYSE: GOOS) declined $0.70 per share to close at $20.72 per share on November 2, 2017.

Then, on June 17, 2019, the United States Federal Trade Commission (“FTC”) issued a closing letter to Canada Goose Holdings Inc’s legal counsel. The FTC Closing Letter stated that the FTC had investigated Canada Goose’s advertising practices for possible violations of the Federal Trade Commission Act (“FTC Act”), citing “concern[s] that Canada Goose may have made false or misleading representations about the treatment of geese whose down is used in Canada Goose’s apparel.” The FTC further stated that it had not recommended enforcement action against Canada Goose because the Company had “remov[ed] the advertising claims at issue from the marketplace and clarify[ied] its business practices in marketing materials.” However, the FTC expressly stated that “[t]his action is not to be construed as a determination that a violation of law did not occur” and “reserve[d] the right to take further action as the public interest may warrant.” (Emphasis added.)

Shares of Canada Goose Holdings Inc. (NYSE: GOOS) declined $0.50 per share, or 1.36%, to close at $36.17 per share on June 17, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Canada Goose Holdings Inc. (NYSE: GOOS) common shares between March 16, 2017 and August 1, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between March 16, 2017 and August 1, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that Canada Goose Holdings Inc sourced the down and fur used in its clothing products in a way that treated animals in an unethical and inhumane manner, that Canada Goose Holdings Inc was thus non-compliant with relevant FTC regulations pertaining to false advertising with respect to its sourcing practices, that accordingly, Canada Goose Holdings Inc was the subject of an ongoing FTC investigation regarding false advertising, and that as a result, the Company’s public statements were materially false and misleading at all relevant times.