Victoria's Secret faces securities fraud probe after Q4 earnings miss and asset impairment charge.

Victoria's Secret is under investigation by Pomerantz LLP for potential securities fraud following its Q4 2025 financial report, which showed a 4.7% decline in net income and a $116.9 million impairment charge related to its Adore Me acquisition. The company also announced a strategic review of its DailyLook personal styling service. After these disclosures, Victoria's Secret's stock price dropped over 22% in two days. The investigation could lead to legal action if wrongdoing is found, impacting investor confidence and the company's market value.