NEW YORK, Dec. 14, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Gildan Activewear Inc. (“Gildan” or the “Company”) (NYSE: GIL). Such investors are advised to contact Danielle Peyton at newaction@pomlaw.com or 646-581-9980, ext. 7980.
The investigation concerns whether Gildan and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 11, 2023, Gildan issued a press release “announc[ing] that Glenn J. Chamandy has left his position as President and Chief Executive Officer and director of the Company. Vince Tyra has been appointed President and CEO effective February 12, 2024.” Also on December 11, 2023, Chamandy issued a separate statement to the effect that he had learned only the previous day that the Company’s Board of Directors “was terminating [his] employment agreement without cause.”
Following news of Chamandy’s departure, Gildan’s stock price fell $3.94 per share, or 10.79%, to close at $32.58 per share on December 11, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
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CONTACT:
Danielle Peyton
Pomerantz LLP
646-581-9980 ext. 7980
