SUEWALLST: LAKELAND'S $46M OFFERING ALLEGEDLY CONCEALED ACQUISITION RISKS

Shareholders Who Acquired Shares in the January 2025 Offering Urged to Review Options

NEW YORK, March 12, 2026 /PRNewswire/ -- SueWallSt announces that a securities class action has been filed against Lakeland Industries, Inc. (NASDAQ: LAKE).

YOU MAY BE AFFECTED IF YOU:

Find out if you qualify for recovery or contact Joseph E. Levi, Esq. at [email protected] or (888) SueWallSt.

Lakeland raised approximately $46 million in gross proceeds through an underwritten public offering of 2,093,000 shares at $22.00 per share in January 2025. By December 10, 2025, shares closed at $9.16, a decline of over 58% from the offering price, representing a loss of $12.84 per share for offering participants.

The Alleged Offering Conducted on Artificially Inflated Shares

Section 10(b) of the Securities Exchange Act of 1934 and SEC Rule 10b-5 prohibit making untrue statements of material facts or omitting facts necessary to prevent existing statements from being misleading. The action contends that Lakeland's January 2025 offering occurred while the Company's stock price was artificially inflated by misleading representations about the performance and prospects of its Pacific Helmets and Jolly acquisitions.

At the time of the offering, the lawsuit asserts, Lakeland had already experienced a revenue miss in Q2 FY2025, with management attributing the shortfall to "shipment timing" and delayed Jolly orders. Despite this warning, the Company continued to reaffirm adjusted EBITDA guidance of $18 million to $21.5 million for FY2025 and proceeded to raise capital from public investors at $22.00 per share.

What the Offering Documents Allegedly Misrepresented

As pleaded in the complaint, investors in the January 2025 offering were not adequately informed of material adverse conditions:

Alleged Offering Proceeds and Defendant Motivation

The complaint contends that Lakeland's January 2025 offering generated approximately $46 million in gross proceeds while shares traded at artificially inflated levels. Plaintiffs allege this offering provided a direct financial motivation for maintaining optimistic public statements about the Company's acquisition strategy and financial outlook.

"The PSLRA provides important protections for investors harmed by alleged securities violations. When companies raise capital from the public, investors are entitled to receive complete and accurate information about known risks that could materially affect the value of their investment." -- Joseph E. Levi, Esq.

Start your claim now or contact Joseph E. Levi, Esq. at (212) 363-7500.

WHY LEVI & KORSINSKY -- Ranked in ISS Securities Class Action Services' Top 50 Report for seven consecutive years, Levi & Korsinsky, LLP is a nationally recognized leader in shareholder rights litigation. With a team of over 70 professionals, the firm has recovered hundreds of millions of dollars for investors. Motions for lead plaintiff must be filed with the Court by April 24, 2026.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

[email protected]

Tel: (888) SueWallSt

Fax: (212) 363-7171

SOURCE SueWallSt.com