Harwood Feffer Announces Class Action Lawsuit Against The Timberland Company

Harwood Feffer announced today that a class action complaint has been filed against The Timberland Company TBL and certain of the Company's officers for violations of the Securities Exchange Act of 1934. The action, brought on behalf of those purchasing the common stock of Timberland between February 17, 2011 and May 4, 2011, inclusive, is pending in the United States District Court for the District of New Hampshire. The filed complaint alleges that, during the Class Period, the Company disseminated overly optimistic statements about then-present sales trends, cost discipline and inventory levels and an anticipated return to a 15% operating profit, and that, as a result of these representations, Timberland share prices traded at artificially inflated prices. However, at the same time the Company was making such statements, certain of its officers and directors concealed that demand for Timberland's key products had actually declined dramatically, its inventory levels were rising, and Timberland had significantly increased advertising spending to counter lackluster sales, thereby materially decreasing operating income. On May 5, 2011, Timberland disclosed the financial results for the Company's first quarter 2011 that were far below its bullish Class Period public statements. As a result of this revelation, prices of the Company's common stock plummeted.