NEW YORK--(BUSINESS WIRE)--Apr 24, 2026--
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Lakeland Industries, Inc. (“Lakeland” or the “Company”) (NASDAQ: LAKE) and reminds investors of the April 24, 2026 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
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Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See www.faruqilaw.com.
As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: Throughout the Class Period, Defendants made materially false and misleading statements regarding Lakeland’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) 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; (ii) 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; (iii) 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; (iv) accordingly, Defendants overstated the strength of their tariff mitigation measures and SSQ M&A strategy; (v) as a result of all the foregoing issues, Defendants’ financial guidance was unreliable; and (vi) as a result, Defendants’ public statements were materially false and misleading at all relevant times.
The truth began to emerge on September 4, 2024, when, during post-market hours, Lakeland issued a press release reporting its financial results for the second quarter ("Q2") of its FY 2025. Among other results, Lakeland reported revenue of $38.51 million for the quarter, missing consensus estimates by $1.39 million. Defendant James M. Jenkins ("Jenkins"), the Company's President, Chief Executive Officer ("CEO"), and Executive Chairman, revealed "the shortfall was due to shipment timing," and that, inter alia, Jolly had "substantial fire orders delayed to the late third and early fourth quarter."
On this news, Lakeland's stock price fell $1.86 per share, or 7.82%, to close at $21.92 per share on September 5, 2024.
On April 9, 2025, during post-market hours, Lakeland issued a press release reporting its financial results for its fourth quarter ("Q4") and FY of 2025. Among other results, Lakeland reported Q4 GAAP[3] earnings per share ("EPS") of -$2.42, missing consensus estimates by $2.80, and FY 2025 adjusted EBITDA, excluding FX losses, of only $17.4 million-significantly below Defendants' repeatedly reiterated guidance of EBITDA of at least $18 million. Defendant Jenkins blamed these disappointing results on, inter alia, "a large Jolly fire boots order that was initially expected to ship in Q2 of FY25 [that] has now slipped into FY26," "weakness . . . at Pacific Helmets resulting from production issues and product offering updates[,]" and "slower than expected" "rollout of new products from Pacific Helmets and Jolly Boots[.]"
On this news, Lakeland's stock price fell $2.63 per share, or 14.33%, to close at $15.72 per share on April 10, 2025.
Then, on June 9, 2025, during post-market hours, Lakeland issued a press release reporting its financial results for the first quarter ("Q1") of its FY 2026. Among other results, Lakeland reported Q1 GAAP EPS of -$0.41, missing consensus estimates by $0.60, as well as revenue of $46.74 million, missing consensus estimates by $2.1 million. Defendant Jenkins blamed these disappointing results on, inter alia, its Pacific Helmets business "resulting from production issues and updates to product offerings[,]" as well as "shipment timing" and "tariff-related delays[.]" Defendant Roger D. Shannon ("Shannon"), Lakeland's Chief Financial Officer, attributed the shortfall in adjusted EBITDA in the quarter to, inter alia, "elevated freight costs resulting from tariff-related inventory build, and dilution from acquisitions."
On this news, Lakeland's stock price fell $4.29 per share, or 22.16%, to close at $15.07 per share on June 10, 2025.
On September 9, 2025, during post-market hours, Lakeland issued a press release reporting its financial results for Q2 of its FY 2026. Among other results, Lakeland reported revenue of $52.5 million for the quarter, missing consensus estimates by $2.09 million. Defendant Jenkins once again blamed these disappointing results on, inter alia, "Pacific Helmets resulting from updates to product offerings and production issues[,]" as well as "continued delays in purchasing decisions due to tariff uncertainty[.]"
On this news, Lakeland's stock price fell $0.64 per share, or 4.43%, to close at $13.80 per share on September 10, 2025.
Then, on December 9, 2025, during post-market hours, Lakeland issued a press release reporting its financial results for the third quarter ("Q3") of its FY 2026. Among other results, Lakeland reported Q3 2026 GAAP EPS of -$1.64, missing consensus estimates by $1.93, and revenue of $47.6 million, missing consensus estimates by $9.05 million, blaming, inter alia, "timing, certification delays, and material flow issues" in its acquired businesses, as well as tariff-related headwinds. The press release further revealed that Lakeland was withdrawing its previously issued financial guidance for FY 2026 and would not provide financial guidance going forward because the foregoing "challenges have affected our forecasting ability[.]"
The same day, also during post-market hours, Lakeland filed a current report on Form 8-K with the SEC, disclosing that Defendant Shannon's employment had been terminated.
Following these disclosures, Lakeland's stock price fell $5.85 per share, or 38.97%, to close at $9.16 per share on December 10, 2025.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Lakeland’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
To learn more about the Lakeland Industries class action, go to www.faruqilaw.com/LAKE or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310).
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LAKE FINAL DEADLINE ALERT: Faruqi & Faruqi, LLP Reminds Lakeland Industries (LAKE) Investors of Securities Class Action Deadline on April 24, 2026
