An investigation for investors in NYSE:JCP shares was announced over potential breaches of fiduciary duties by certain officers and directors at J C Penney Company.
Investors who purchased shares of J C Penney Company Inc (NYSE:JCP) and currently hold any of those NYSE:JCP shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain J C Penney Company officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
J C Penney Company Inc reported that its Total Revenue rose from over $12.25 billion for the 52 weeks period that ended on January 31, 2015 to over $12.62 billion for the 52 weeks period that ended on January 30, 2016 and that its Net Loss for those respective time frames declined from $771 million to $513 million.
On December 7, 2016, the Los Angeles City Attorney’s Office filed a lawsuit against J C Penney Company Inc and other national retail giants. According to the complaint J C Penney Company Inc allegedly has engaged in false reference pricing as a frequent business practice, thereby misleading consumers. The complaint further alleged that J C Penney Company Inc continues to engage in such deceptive (and illegal) acts, despite representing to a federal district court (in November 2015) that it would no longer do so.
Shares of J C Penney Company Inc (NYSE:JCP) declined on December 15, 2016, to as low as $8.59 per share.
Those who purchased NYSE:JCP shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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