Canada Goose Clothing Line Sued in Securities Fraud Class Action

A class action has been filed on behalf of a proposed class of Canada Goose investors who allege the luxury outerwear brand concealed inhumane treatment of animals it sourced materials from, causing a stock price decline after the company came under scrutiny for falsely advertising about its practices. According to the complaint, a series of revelations about the company’s sourcing, including a news release by People for the Ethical Treatment of Animals, a media report and a Federal Trade Commission investigation of the company’s advertising, all contributed to a “precipitous decline” in the price of the company’s stock.

The complaint claims these revelations on the sourcing were met with per-share stock drops of about 1.36% to almost 5%. The proposed class would include those who purchased Canada Goose stock between March 16, 2017, when the company started trading on the New York Stock Exchange after its initial public offering, and Aug. 1, 2019, when the media report was published.

The case is Cheng v. Canada Goose Holdings Inc. et al., Case Number 1:19-cv-08204, in the U.S. District Court for the Southern District of New York.

This blog is intended to provide information to the general public and to practitioners about developments that may impact Oregon class actions.

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Steve Larson
An experienced trial lawyer who handles both hourly and contingent fee cases, Steve has expertise in class actions, antitrust litigation, securities litigation, corporate disputes, intellectual property disputes, unfair competition claims, and disputes involving family wealth. Steve regularly represents individuals and businesses in federal and state court and has obtained class-wide recovery in multiple class actions. A veteran practitioner, Steve's clients value his creative approach to resolving complex litigation matters.


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The information contained in this blog does not constitute legal advice, and does not create an attorney-client relationship. We make no claims, promises or guarantees about the accuracy, completeness, or adequacy of the information contained in or linked to this blog.