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Lakeland Industries, Inc.
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Symbol:
LAKE
Analyst:
Howard Halpern
Taglich Rating:
Buy
Price Target:
$13.15
Time Horizon:
12 Months
Rating Established:
September 24, 2010
Price When Established:
$9.29
Most Recent Report:
April 24, 2012
Price When Issued:
$10.77
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What's New
On May 14, 2012, Lakeland Industries announced it received an unfavorable arbitration ruling in proceeding against two former officers of Lakeland’s Brazilian subsidiary. The ruling in favor of the two former officers amounts to approximately $9.8 million plus 85% of arbitration costs, given the current currency exchange rate.
Lakeland plans to file a request for clarification of the award that could result in the award being modified. Based on the outcome of the clarification decision, Lakeland may file a lawsuit to set aside the award in a State Civil Court in Brazil.
The filing of the motion for clarification will stay enforcement of the award.
The Company may need to raise additional capital if the initial arbitration ruling is upheld.
See press release for full details -- http://finance.yahoo.com/news/lakeland-industries-announces-decision-brazilian-212600796.html
Company Description
Lakeland Industries, Inc., headquartered in Ronkonkoma, New York, manufactures and sells a comprehensive line of safety garments and accessories for the industrial protective clothing market.
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The information and statistical data contained herein have been obtained from sources, which we believe to be reliable but in no way are warranted by us as to accuracy or completeness. We do not undertake to advise you as to changes in figures or our views. This is not a solicitation of any order to buy or sell. Taglich Brothers, Inc. is fully disclosed with its clearing firm, Pershing, LLC, is not a market maker and does not sell to or buy from customers on a principal basis. The above statements are the opinion of Taglich Brothers, Inc. and are not a guarantee that the target price for the stock will be met or that predicted business results for the company will occur. There may be instances when fundamental, technical and quantitative opinions contained in the reports are not in concert. We, our affiliates, any officer, director or stockholder or any member of their families may from time to time purchase or sell any of the above-mentioned or related securities. Analysts and members of the Research Department are prohibited from buying or selling securities issued by the companies that Taglich Brothers, Inc. has a research relationship with, except if ownership of such securities was prior to the start of such relationship, then an Analyst or member of the Research Department may sell such securities after obtaining expressed written permission from Compliance. All research issued by Taglich Brothers, Inc. is based on public information. Taglich Brothers, Inc. did have an Investment Banking relationship with the company mentioned and was a manager or co-manager of any offering for the company within the last three years. Taglich Brothers, Inc. does own at least 1% of the company common stock. The company prepaid for the first three months of distribution a total of $6,000 (USD) on July 2010, and will pay beginning December 2010 a monthly monetary fee of $2,000 (USD) to Taglich Brothers, Inc. for the creation and dissemination of research reports. For further information and Taglich Brothers, Inc. ownership data please refer to each individual report.
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