Fossil Group Inc (NASDAQ:FOSL) Investor Investigation Concerning Potential Violations Of Securities Laws Announced

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Company Name(s): 
Fossil Group
Affected Securities: 

May 13, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Fossil Group Inc (NASDAQ:FOSL) shares over potential securities laws violations by Fossil Group and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Fossil Group Inc (NASDAQ:FOSL) concerning whether a series of statements by Fossil Group regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

On February 16, 2016, Fossil Group Inc reported its financial results for the fourth quarter and fiscal year ended January 2, 2016. Fossil Group Inc reported that its Total Revenue declined from over $3.5 billion for the 53 weeks period that ended on January 3, 2015 to over $3.22 billion for the 52 weeks period that ended on January 2, 2016 and that its respective Net Income decreased from $376.71 million to $220.64 million.
On May 10, 2016, Fossil Group Inc reported its financial results for the fiscal quarter ended April 2, 2016 and issued its sales and earnings guidance for its fiscal second quarter and full year 2016.

Shares of Fossil Group Inc (NASDAQ:FOSL) declined from as high as $129.56 per share in late 2013 to as low as $26.51 per share on May 11, 2016.

On May 12, 2016, NASDAQ:FOSL shares closed at $28.25 per share.