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News Breaks
July 2, 2014
16:25 EDTLAKELakeland Industries sees $380K charge on Brazil labor proceeding
Lakeland Industries disclosed that on June 26 Lakeland Brazil, a wholly-owned subsidiary of Lakeland Industries, received notice of a court judgment entered against it in a labor proceeding in Brazil in the amount of approximately $1,086,000. Based on the advice of Brazilian counsel handling the action, the company had not anticipated a judgment to be entered against Lakeland Brazil in this proceeding, if at all, in excess of $45,000, $R100,000, which amount was deemed not material and therefore not previously disclosed. The company added, "Lakeland Brazil is working with, and relying upon the advice of, new legal counsel and accountants in Brazil and intends to appeal the judgment on the basis that, among other things, the judgment is mathematically incorrect. Based on review of the case with our new legal counsel and based upon their assessments of our likelihood to prevail on appeal, the company will take a charge to earnings of $380,000, which is our estimate of what the outcome will ultimately be on this case." As a result of this and other recent developments in Brazil, Lakelandís Board of Directors has decided to explore all strategic options for Brazil.
News For LAKE From The Last 14 Days
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November 21, 2014
09:28 EDTLAKELakeland Industries files to sell 1.17M shares for holders
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November 20, 2014
15:14 EDTLAKETraveler returned from Mali being tested for Ebola in NYC, Daily News reports
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November 17, 2014
08:44 EDTLAKENebraska Medical announces death of third Ebola patient
The Nebraska Medical Center said via Twitter, "We are sorry to announce that the 3rd Ebola patient, Dr. Martin Salia, has passed away as a result of the advanced symptoms of the disease." Drug companies that are working on experimental Ebola vaccines or treatments include Peregrine (PPHM), Tekmira (TKMR), Sarepta (SRPT), BioCryst (BCRX), Chimerix (CMRX) and NewLink Genetics (NLNK). Some companies that offer protective clothing and waste disposal include Lakeland Industries (LAKE), Alpha Pro Tech (APT) and Sharps Compliance (SMED).
November 14, 2014
12:15 EDTLAKELakeland Industries advances after Ebola scare prompts revenue rise
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10:35 EDTLAKELakeland up 2% after saying Ebola leading to 'significant' increase in orders
10:34 EDTLAKELakeland Industries sees Q3 U.S., Canada sales $14.5M-$14.7M
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November 12, 2014
09:01 EDTLAKENurses expected to protest, strike over Ebola protection, Reuters says
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