Lakeland Industries (NASDAQ: LAKE) is once again in the legal spotlight, this time with a calendar date investors can’t ignore. Misryoum newsroom reported that the lead-plaintiff deadline in a federal securities class action filed against the company is April 24, 2026.
The case, according to Misryoum newsroom reporting, is being pursued by Faruqi & Faruqi, LLP, a national securities law firm. The firm’s Securities Litigation Partner, James (Josh) Wilson, is encouraging investors who “suffered losses in Lakeland” to contact him directly to discuss options. The contact details shared in the notice are 877-247-4292 or 212-983-9330 (Ext. 1310).
Misryoum newsroom reported the firm is investigating potential claims against Lakeland and its executives, tied to alleged false or misleading statements during a defined period. The putative class period cited runs from December 1, 2023 to December 9, 2025, covering statements about the company’s business, operations, and prospects. The complaint alleges that defendants allegedly overstated both the anticipated and actual positive impact of Pacific Helmets and Jolly, while not disclosing issues including shipping-related delays, production problems, and slower than expected rollout of new products. It also alleges deteriorating business and financial results linked to tariff-related headwinds and timing, certification delays, and material flow issues in acquired businesses.
What’s interesting—at least from a business point of view—is how the narrative of “timing” and operational drag shows up across multiple disclosed quarters. Misryoum newsroom reported that the truth began to emerge on September 4, 2024, when Lakeland issued a post-market press release about Q2 of FY 2025. The company reported revenue of $38.51 million for the quarter, missing consensus estimates by $1.39 million. In that update, defendant James M. Jenkins, the company’s President, CEO, and Executive Chairman, attributed the shortfall to “shipment timing,” and noted, among other things, that Jolly had “substantial fire orders delayed to the late third and early fourth quarter.” On that news, Lakeland’s stock price fell $1.86 per share, or 7.82%, to close at $21.92 per share on September 5, 2024. The next day—hearing the number drop, like the click of a keyboard in a dim office—felt strangely final even though it was just the beginning.
Misryoum newsroom reported additional market reactions tied to later earnings announcements. On April 9, 2025 (post-market), Lakeland released results for Q4 and FY 2025, with Q4 GAAP EPS of -$2.42 missing consensus estimates by $2.80, and FY 2025 adjusted EBITDA (excluding FX losses) of $17.4 million—significantly below repeatedly reiterated guidance of EBITDA of at least $18 million. Jenkins blamed issues that included “a large Jolly fire boots order that was initially expected to ship in Q2 of FY25 [that] has now slipped into FY26,” along with weaknesses at Pacific Helmets and slower than expected rollout of new products. The stock dropped $2.63 per share, or 14.33%, to $15.72 on April 10, 2025.
Then, on June 9, 2025 (post-market), Lakeland reported Q1 FY 2026 results: GAAP EPS of -$0.41 missing consensus estimates by $0.60, and revenue of $46.74 million missing consensus estimates by $2.1 million. Jenkins pointed to Pacific Helmets production issues and product offering updates, plus “shipment timing” and “tariff-related delays,” while CFO Roger D. Shannon attributed an adjusted EBITDA shortfall to “elevated freight costs resulting from tariff-related inventory build, and dilution from acquisitions.” Misryoum newsroom reporting said the stock fell $4.29 per share, or 22.16%, to close at $15.07 on June 10, 2025.
Misryoum newsroom reported the pattern continued. On September 9, 2025 (post-market), Lakeland said revenue for Q2 FY 2026 was $52.5 million, missing consensus estimates by $2.09 million, with Jenkins citing Pacific Helmets updates and production issues and “continued delays in purchasing decisions due to tariff uncertainty.” Shares dropped $0.64 per share, or 4.43%, to $13.80 on September 10, 2025. Finally, on December 9, 2025 (post-market), Lakeland reported Q3 FY 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. It blamed “timing, certification delays, and material flow issues” in acquired businesses and tariff-related headwinds, and said it was withdrawing prior FY 2026 guidance and would not provide guidance going forward because challenges affected forecasting ability. That same day, Lakeland filed an 8-K disclosing Shannon’s employment was terminated. Misryoum newsroom reported shares then fell $5.85 per share, or 38.97%, to close at $9.16 on December 10, 2025.
As for the process, Misryoum newsroom reported that the court-appointed lead plaintiff is meant to be the investor with the largest financial interest in the relief sought and adequate and typical of class members, overseeing the litigation. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery, Misryoum newsroom reporting added, is not affected by serving—or not. Faruqi & Faruqi also encouraged whistleblowers, former employees, shareholders, and others with information about Lakeland’s conduct to contact the firm.