NYSE:VSI Investor Alert: Lawsuit against Vitamin Shoppe Inc alleges Misleading Statements
The Shareholders Foundation announces that an investor in shares of Vitamin Shoppe Inc (NYSE:VSI) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Vitamin Shoppe Inc in connection certain allegedly false and misleading statements made between May 8, 2012 and February 25, 2013.
Investors who purchased shares of Vitamin Shoppe Inc (NYSE:VSI) have certain options and for certain investors are short and strict deadlines running. Deadline: July 8, 2013. NYSE:VSI investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Vitamin Shoppe Inc (NYSE:VSI) common stock during the period between May 8, 2012 and February 25, 2013, that Vitamin Shoppe Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding the Company’s operations, business trends and same-store sales trends.
The plaintiff claims that defendants allegedly failed to disclose that Vitamin Shoppe’s business was then being negatively impacted by competition from on-line retailers which were significantly reducing prices on popular supplements, that GNC’s new discount program was negatively impacting Vitamin Shoppe’s sales growth and that Vitamin Shoppe was experiencing declining same-store sales trends.
Vitamin Shoppe Inc reported that its total Revenue rose from $674.50 million for the 52 weeks period that ended on Dec. 26, 2009 to $856.59 million for the 52 weeks period that ended on Dec. 31, 2011 and that its respective Net Income increased from $12.67 million to $44.86 million.
Shares of Vitamin Shoppe Inc grew from $17.95 per share in November 2009 to as high as $64.78 per share on February 19, 2013.
Then on Feb. 26, 2013, Vitamin Shoppe Inc its fourth quarter and fully year 2012 results. Vitamin Shoppe Inc reported that its Total Revenue rose to $950.90 million and its Net Income increased to $60.83 million.
Shares of Vitamin Shoppe Inc declined from almost $65 per share on February 19, 2013 to $51.44 per share on Feb. 26, 2013.
Then on May 7, 2013, Vitamin Shoppe Inc announced its first quarter 2013 results.
Shares of Vitamin Shoppe Inc declined from $49.70 per share on May 6, 2013 to as low as $43.47 per share on May 8, 2013.
On May 17, 2013, NYSE:VSI shares closed at $65.93 per share, which is significantly below its current 52 week High of $65.93 per share.
Those who purchased shares of Vitamin Shoppe Inc (NYSE:VSI), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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