The Law Offices of Frank R. Cruz reminds investors of the upcoming April 24, 2026 deadline to participate as a lead plaintiff in the securities fraud class action lawsuit filed on behalf of investors who acquired Lakeland Industries, Inc. (“Lakeland” or the “Company”) (NASDAQ: LAKE) securities between December 1, 2023 and December 9, 2025, inclusive (the “Class Period”).
IF YOU ARE AN INVESTOR WHO LOST MONEY ON LAKELAND INDUSTRIES, INC. (LAKE), CLICK HERE TO PARTICIPATE IN THE SECURITIES FRAUD LAWSUIT.
What Happened?
In November 2023, Lakeland announced its acquisition of Pacific Helmets, an alleged leading manufacturer of fire and rescue helmets. Shortly after, in February 2024, Lakeland announced the acquisition of Jolly, an alleged leading manufacturing of fire and rescue footwear. Both acquisitions were made pursuant to the Company’s purported “small, strategic, and quick” mergers and acquisitions strategy.
On September 4, 2024, Lakeland released second quarter 2025 financial results, reporting revenue of $38.51 million, missing consensus estimates by $1.39 million, due to “shipment timing” and delayed orders.
On this news, Lakeland’s stock price fell $1.86, or 7.8%, to close at $21.92 per share on September 5, 2024, thereby injuring investors.
Then, on April 9, 2025, Lakeland released fourth quarter and full year 2025 financial results, again missing consensus estimates and its own guidance, due to “a large Jolly fire boots order [which] slipped into FY26,” “weakness . . . at Pacific Helmets resulting from production issues[,]” and “slower than expected” “rollout of new products from Pacific Helmets and Jolly Boots[.]”
On this news, Lakeland’s stock price fell $2.63, or 14.3%, to close at $15.72 per share on April 10, 2025.
Next, on June 9, 2025, Lakeland released first quarter 2026 financial results, yet again missing consensus estimates. The Company placed the blame on its Pacific Helmets business “resulting from production issues and updates to product offerings[,]” as well as “shipment timing” and “tariff-related delays[.]”
On this news, Lakeland’s stock price fell $4.29, or 22.16%, to close at $15.07 per share on June 10, 2025.
Then, on September 9, 2025, Lakeland released second quarter 2026 financial results, missing consensus estimates in revenue by $2.09 million, again citing Pacific Helmets production issues.
On this news, Lakeland’s stock price fell $0.64, or 4.4%, to close at $13.77 per share on September 10, 2025.
Finally, on December 9, 2025, Lakeland released its third quarter 2026 financial results, once again missing consensus estimates, blaming “timing, certification delays, and material flow issues.”
Further, the Company announced that its Chief Financial Officer’s employment had been terminated, and it was withdrawing its previously issued financial guidance for 2026 and would not provide financial guidance going forward because the foregoing “challenges have affected our forecasting ability[.]”
On this news, Lakeland’s stock price fell $5.85 per share, or 38.97%, to close at $9.16 per share on December 10, 2025, thereby injuring investors further.
What Is The Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Lakeland was experiencing significant, sustained issues with its Pacific Helmets and Jolly businesses, including, inter alia, shipping-related delays, production issues, and slower than expected rollout of new products; (2) accordingly, Defendants overstated the anticipated and actual positive impact of these businesses on Lakeland’s financial results, as well as the overall strength and quality of Pacific Helmets’ and Jolly’s respective operations; (3) Lakeland’s business and financial results were significantly deteriorating because of, inter alia, tariff-related headwinds and timing, certification delays, and material flow issues in its acquired businesses; (4) accordingly, Defendants overstated the strength of their tariff mitigation measures and “small, strategic, and quick” mergers and acquisitions strategy; (5) as a result of all the foregoing issues, Defendants’ financial guidance was unreliable; and (6) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
If you purchased or otherwise acquired Lakeland securities between December 1, 2023 and December 9, 2025, the deadline to seek appointment as the lead plaintiff in the securities fraud class action is April 24, 2026.
Contact Us To Participate or Learn More:
If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact us:
Frank R. Cruz
The Law Offices of Frank R. Cruz,
2121 Avenue of the Stars, Suite 800,
Century City, California 90067
Email us at: info@frankcruzlaw.com
Call us at: 310-914-5007
Visit our website at www.frankcruzlaw.com
Follow us for updates on Twitter: twitter.com/FRC_LAW
If you inquire by email, please include your mailing address, telephone number, and number of shares purchased.
To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260423529097/en/
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