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BENSALEM, Pa.--(BUSINESS WIRE)--Nov 26, 2024--
Law Offices of Howard G. Smith announces an investigation on behalf of Macy’s, Inc. (“Macy’s” or the “Company”) (NYSE: M ) investors concerning the Company’s possible violations of federal securities laws.
On November 25, 2024, Macy’s disclosed that it would delay the release of its third quarter 2024 financial results and that it had “identified an issue related to delivery expenses in one of its accrual accounts.” Specifically, the Company disclosed an employee had "intentionally made erroneous accounting accrual entries to hide approximately $132 million to $154 million of cumulative delivery expenses from the fourth quarter of 2021 through fiscal quarter ended November 2, 2024.”
On this news, Macy’s stock price fell $0.36, or 2.2%, to close at $15.94 per share on November 25, 2024, thereby injuring investors.
If you purchased Macy’s securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847 or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20241126301752/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
KEYWORD: PENNSYLVANIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: CLASS ACTION LAWSUIT PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2024.
PUB: 11/26/2024 07:15 PM/DISC: 11/26/2024 07:15 PM
http://www.businesswire.com/news/home/20241126301752/en