A securities class action has been filed against Gildan Activewear Inc. (GIL) on behalf of purchasers of the securities of Gildan between February 19, 2025 through June 15, 2026. This case has been filed in the USDC – NDNY.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Gildan did not have adequate internal controls; (2) Gildan used channel stuffing to create an appearance of revenue; and (3) as a result, defendants’ statements about Gildan’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.