The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of investors who acquired Lakeland Industries, Inc. (“Lakeland” or the “Company”) (NASDAQ: LAKE) securities during the period of December 1, 2023 through December 9, 2025, inclusive (“the Class Period”).

If you suffered a loss on your Lakeland investments, you have until April 24, 2026 to request lead plaintiff appointment. Courts do not consider lead plaintiff applications submitted after this deadline. If you choose to take no action, you may remain an absent class member. For more information about the lawsuit:

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What Is This Lawsuit About? The lawsuit alleges 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, the Company 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; and (iv) accordingly, Defendants overstated the strength of their tariff mitigation measures and SSQ M&A strategy.

On September 4, 2024, Lakeland reported its financial results for the second quarter of 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, the Company’s President, Chief Executive Officer, 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, the price of Lakeland shares declined by $1.86 per share, or approximately 7.82%, from $23.78 per share on September 4, 2024 to close at $21.92 on September 5, 2026.

On April 9, 2025, Lakeland reported its financial results for its fourth quarter and FY of 2025. Among other results, Lakeland reported Q4 GAAP earnings per share of -$2.42, missing consensus estimates by $2.80, and FY 2025 adjusted EBITDA, excluding FX losses, of only $17.4 million—significantly below 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, the price of Lakeland shares declined by $2.63 per share, or approximately 14.3%, from $18.35 per share on April 9, 2025 to close at $15.72 on April 10, 2025.

Then, on June 9, 2025, Lakeland reported financial results for the first quarter of its FY 2026. 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, Lakeland’s Chief Financial Officer, blamed “elevated freight costs resulting from tariff-related inventory build, and dilution from acquisitions.” On this news, the price of Lakeland shares declined by $4.29 per share, or approximately 22.16%, from $19.36 per share on June 9, 2025 to close at $15.07 on June 10, 2025.

On September 9, 2025, Lakeland reported financial results for Q2 of FY 2026. Among other results, Lakeland reported revenue of $52.5 million, 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, the price of Lakeland shares declined by $0.64 per share, or approximately 4.4%, from $14.44 per share on September 9, 2025 to close at $13.80 on September 10, 2025.

Then, on December 9, 2025, during post-market hours, Lakeland reported financial results for the third quarter 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. Lakeland also withdrew 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, Lakeland disclosed that Defendant Shannon’s employment had been terminated. On this news, the price of Lakeland shares declined by $5.85 per share, or approximately 39%, from $15.01 per share on December 9, 2025 to close at $9.16 on December 10, 2025.

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The Lead Plaintiff Appointment Process. The federal securities laws permit any investor who acquired eligible securities during the class period to seek appointment as lead plaintiff in a class action lawsuit. Courts typically appoint the investor(s) with the largest financial loss in the case and the ability to represent the class rather than investors with simply the largest investment portfolio. Courts regularly appoint individual investors, whether acting alone or as a group, as lead plaintiffs. The rights of any investor who bought shares during the class period are generally already protected. However, lead plaintiffs have the power to influence case strategy and have a say in settlement decisions, as well as decisions concerning allocation of settlement funds among class members.

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What Should I Do? If you purchased or otherwise acquired Lakeland securities, have information, or would like to learn more about this investigation, please contact Lauren Molinaro of Kirby McInerney LLP by email at investigations@kmllp.com, or fill out the contact form below, to discuss your rights or interests with respect to these matters at no cost.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website.

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