The allegations center on whether Gildan masked years of stagnant organic growth by forcing surplus inventory into its distributor channels. Despite these claims, the company has reaffirmed its fiscal 2026 guidance, maintaining that its financial disclosures remain accurate and comprehensive. CEO Glenn Chamandy and CFO Luca Barile had previously certified the company's fiscal 2025 and first-quarter 2026 filings, asserting that all financial statements were free of material misrepresentations.
Legal firm Levi & Korsinsky, LLP, has launched an investigation into the matter, seeking to represent shareholders who suffered losses following the stock's decline. The firm is currently collecting documentation from investors to evaluate potential claims regarding the company's communication of its distributor channel health. While Gildan officials previously characterized their sales as healthy and in balance, the short-seller report contends that these assertions misled the market about the true state of the company's revenue growth.
Comments (0)
No comments yet. Be the first!