A class action lawsuit was filed against VF Corp. (VFC) on September 12, 2025. The plaintiffs (shareholders) alleged that they bought VFC stock at artificially inflated prices between October 30, 2023, and May 20, 2025 (Class Period) and are now seeking compensation for their financial losses. Investors who bought VFC stock during that period can click here to learn about joining the lawsuit.
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VF Corp. is among the world’s largest apparel, footwear, and accessories manufacturers. VFC offers products through its leading outdoor, active, and workwear brands, including Vans, The North Face, Timberland, and Dickies. The company sells its products in the Americas, Europe, and Asia-Pacific through its stores, online platforms, and wholesale channels.
The company’s claims about the effectiveness of its turnaround strategy and its efforts to restore the Vans brand to a growth trajectory are at the heart of the current complaint.
VF Corp.’s Misleading Claims
According to the lawsuit, VFC and three of its current and/or former senior officers (the Defendants) repeatedly made false and misleading public statements throughout the Class Period. In particular, they are accused of omitting truthful information about the company’s turnaround plans from SEC filings and related material.
At the beginning of the Class Period, the company’s CEO said the Reinvent plan would strengthen brand building, improve North America, boost the Vans turnaround, and quickly cut fixed costs and debt.
During an earnings call that same day, VFC’s CEO said the company would adjust Vans’ brand strategy, noting that the brand’s trends were not improving and might even be worsening.
Later, during a February 6, 2024 earnings call, the company’s CEO announced that CFO Matt Puckett would step down later in the year as part of the company’s broader transformation efforts.
Finally, on a May 22, 2024, earnings call, VFC’s CEO said that although Vans’ overall results had not improved yet, early signs of progress were appearing, particularly with direct-to-consumer sales in Europe turning positive.
However, subsequent events (detailed below) revealed that additional significant reset actions would be necessary to return the Vans brand to growth, resulting in significant setbacks to Vans’ revenue growth trajectory.
Plaintiffs’ Arguments
The plaintiffs maintain that the defendants deceived investors by lying and withholding critical information about the company’s business and prospects during the Class Period. Importantly, the defendants failed to inform investors that Vans’ turnaround strategy would take longer than expected to return to growth.
The information became clear on May 21, 2025, when the company released its fourth quarter and full-year Fiscal 2025 results. VFC reported a sharp drop in Vans’ performance, with losses increasing from 8% the previous quarter to 20% in Q4, and warned the decline would continue into the next quarter.
The company attributed its results and below-expectation guidance largely to “a direct effect of deliberately reduced revenue to eliminate unprofitable or unproductive businesses” and “an additional set of deliberate actions” already in place but previously unannounced. Following the news, VFC stock plunged 15.8%.
To conclude, the defendants failed to inform investors that the Vans brand was experiencing a slowdown in demand and would post a high single-digit revenue decline despite turnaround efforts. Due to these issues, VFC stock has lost more than 27% year-to-date.
