LOS ANGELES, April 28, 2025 -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Movado Group, Inc. ("Movado" or "the Company") (NYSE: MOV) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Movado announced on April 11, 2025, that it had become "aware of allegations of misconduct within the Dubai branch" of its subsidiary MGI Luxury Group Sárl. According to the Company, the allegations relate to "sales to certain customers in the Middle East, India & Asia Pacific region." The Company admitted that it had "determined that the former managing director of the Dubai Branch . . . as well as certain employees under his direction, took actions that resulted in an overstatement of sales, premature recognition of sales, and underreporting of credit notes (e.g., sales discounts) owed to customers." This conduct, along with other alleged misconduct, occurred over a period of years. The Company determined that its financial statements dating back to 2022 will require restatement and its internal controls were ineffective.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com
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