Liz Claiborne wins dismissal of investor lawsuit

IndustrialsReuters

NEW YORK (Reuters) - Liz Claiborne Inc <LIZ.N> on Thursday won the dismissal of a shareholder lawsuit accusing the clothing designer of fraudulently misrepresenting its relationships with department store chains Macy's Inc <M.N> and J.C. Penney Co <JCP.N>, causing its stock to fall.

U.S. District Judge Richard Holwell said the investors failed to show that Liz Claiborne intended to mislead them about the relationships.

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The class period ran from January 16 to April 30, 2007, the day before Liz Claiborne reported much lower-than-expected profit and sales at department store chains.

A lawyer for the plaintiffs did not immediately respond to a request for comment.

(Reporting by Jonathan Stempel in New York; Editing by Gary Hill)

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