Gibbons’ co-chair of the firm’s securities team, Samuel Portnoy, will be one of the attorneys representing youth clothing store The Children’s Place in a securities class action that accuses the company of failing to disclose “aggressive” promotions that resulted in overstated inventory values and adverse financial projections.

Attorney Donald A. Ecklund, a partner with Carella, Byrne Cecchi, Brody & Agnello in Roseland, New Jersey, filed the suit on behalf of Randeep Singh Khalsa against The Children’s Place, and its top leaders, on Feb. 28 in the U.S. District Court for the District of New Jersey after the company announced its preliminary fourth-quarter fiscal year 2023 financial results. The company disclosed net sales expected in the range of $454 million to $456 million—compared to the its prior expectation of $460 million to $465 million, according to the complaint.