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Stock Market & Financial Investment News

News Breaks
March 11, 2013
16:38 EDTLAKELakeland Industries reports material developments
Lower than expected sales in Brazil for the quarter ended January 31, 2013 resulting in anticipated operating loss in Brazil $11.5 million goodwill impairment charge in Brazil ;Potential default on bank line of credit with TD Bank; Lower than expected sales in the quarter ended January 31, 2013 in Brazil will likely result in an operating loss from Brazil in such quarter. In view of the recent operating losses incurred by Lakeland Brazil, management determined that the carrying amount of the goodwill related to our Brazil subsidiary exceeded its fair value, which was estimated based on the present value of expected future cash inflows.
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July 23, 2015
16:15 EDTLAKELakeland Industries CFO Gary Pokrassa retiring, Teri Hunt appointed Acting CFO
Lakeland Industries CFO Gary Pokrassa has retired as Chief Financial Officer. Teri W. Hunt, a 10 year veteran of Lakeland and most recently serving as VP, Finance based in the company's Decatur, Alabama offices, has been named as Acting CFO to succeed Pokrassa. Pokrassa has agreed to continue with the company in a consulting capacity for a period of one year.

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