May 1, 2015 (Shareholders Foundation) - An investigation on behalf of investors of Hanesbrands Inc. (NYSE:HBI) shares over potential securities laws violations by Hanesbrands Inc and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Hanesbrands Inc. (NYSE:HBI) concerning whether a series of statements by Hanesbrands Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Hanesbrands Inc. reported that its total Revenue rose from over $4.52 billion for the 52 weeks period that ended on Dec. 29, 2012 to over $5.32 billion for the 52 weeks period that ended on Jan. 3, 2015 and that its Net Income for those respective time periods increase from $164.68 million to $404.52 million.
Then on April 23, 2015, Hanesbrands Inc. reported its first quarter 2015 financial results. Among other things, Hanesbrands Inc. also issued its 2015 financial guidance.
Shares of Hanesbrands Inc. (NYSE:HBI) declined from $34.77 per share on April 23, 2015 to as low as $31.54 per share on April 27, 2015.