Pomerantz LLP

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L Brands, Inc.

We are investigating L Brands, Inc. (LB) (“L Brands” or the “Company”) for potential violations of the federal securities laws.

On November 19, 2018, L Brands issued a press release announcing its financial and operating results for the third quarter of 2018. The press release announced that L Brands intended to reduce its annual ordinary dividend to $1.20 from $2.40 beginning with the quarterly dividend to be paid in March 2019 in order to deleverage Company’s balance sheet over time. On this news, L Brands’ stock price fell $6.12 per share, or approximately 17.7%, to close at $28.43 per share on November 20, 2018.