NEW YORK, NY / ACCESSWIRE / October 26, 2017 / Pomerantz LLP is investigating claims on behalf of investors of Vitamin Shoppe, Inc. (“Vitamin Shoppe” or the “Company”) (NYSE: VSI). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Vitamin Shoppe and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here to join a class action]
On May 10, 2017, Vitamin Shoppe released first quarter 2017 financial results that were lower than the market had been led to expect and slashed its fiscal 2017 guidance by 45%, yet claimed that the Company’s “reinvention plan” was still succeeding. On this news, Vitamin Shoppe’s share price fell $6.30, or 33.15%, to close at $12.70 on May 10, 2017. Then, on August 9, 2017, Vitamin Shoppe announced that it was taking a $168.1 million impairment charge on the goodwill being carried on its books associated with its retail segment, and that, as a result, the Company would report a loss per share of $6.73. In addition, citing “the potential increase in variability of the Company’s results due to the number of initiatives being launched in the back half of the year,“ Vitamin Shoppe withdrew its fiscal 2017 earnings per share guidance.
On this news, Vitamin Shoppe’s share price fell $3.50, or 36.45%, to close at $6.10 on August 9, 2017.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
SOURCE: Pomerantz LLP