BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Lakeland Industries, Inc. (“Lakeland” or the “Company”) (NASDAQ: LAKE) securities between December 1, 2023 and December 9, 2025, inclusive (the “Class Period”). Lakeland investors have until April 24, 2026 to file a lead plaintiff motion.
IF YOU ARE AN INVESTOR WHO SUFFERED A LOSS IN LAKELAND INDUSTRIES, INC. (LAKE), CONTACT THE LAW OFFICES OF HOWARD G. SMITH TO PARTICIPATE IN THE ONGOING SECURITIES FRAUD LAWSUIT.
Contact the Law Offices of Howard G. Smith to discuss your legal rights by email at [email protected], by telephone at (215) 638-4847 or visit our website at www.howardsmithlaw.com.
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.
Contact Us To Participate or Learn More:
If you purchased Lakeland securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Law Offices of Howard G. Smith,
3070 Bristol Pike, Suite 112,
Bensalem, Pennsylvania 19020,
Telephone: (215) 638-4847
Email: [email protected],
Visit our website at: www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Contacts
Law Offices of Howard G. Smith
Howard G. Smith, Esquire
215-638-4847
[email protected]
www.howardsmithlaw.com
