NEW YORK, Feb. 6, 2020 /PRNewswire/ -- WeissLaw LLP, a national class action and shareholders' rights law firm with offices in New York, California and Georgia, announces an investigation of L Brands, Inc. /zigman2/quotes/202062875/lastsale LB -1.95% ("L Brands," or the "Company").
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The investigation focuses on possible breaches of fiduciary duty and violations of federal securities laws by the L Brands Board of Directors for the alleged dissemination of materially false and misleading information in connection with the Company's operations. Specifically, L Brands has come under increased scrutiny due to a recent New York Times article which exposed a "culture of misogyny" and sexual misconduct at Victoria's Secret, one of the Company's most prominent brands. According to the article, L Brands has failed to conduct investigations into complaints of sexual harassment and gender discrimination. The article also alleged that one complainant faced retaliation when following her claims, her access to the building where the Company offices where located was terminated, effectively locking her out of the Company's corporate offices.
Additionally, the financial entanglements between the Company's founder & CEO, Leslie Wexner and Jeffrey Epstein have also raised questions. Notably, ABC News has found that Epstein was the trustee of dozens of charitable trusts connected to Wexner, from which Epstein then liquidated large amounts of L Brands stock to purchase planes, mansions, and a private island.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org
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