Former United States Securities and Exchange Commission attorney Willie Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of Powers Taylor, LLP announce that the firms are investigating legal claims against the officers and Board of Directors of The Great Atlantic & Pacific Tea Company, Inc. ("Great Atlantic" or "GAP") (NYSE: GAP) related to potentially misleading statements issued by Great Atlantic between July 23, 2009 and December 10, 2010 (the "Class Period").
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Patrick Powers at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.
It has been alleged that during the Class Period, Great Atlantic and certain of its officers and directors made materially false and misleading statements or failed to disclose material information related to the company's business and operations in violation of the Securities Exchange Act of 1934. Specifically, it is claimed that Great Atlantic and the other defendants misrepresented and/or failed to disclose the following adverse facts: (i) that Great Atlantic was facing increased low-cost competition from retailers such as Wal-Mart and Target Corp., which was negatively impacting the company's business and financial condition; (ii) that the Pathmark acquisition was a complete disaster for Great Atlantic because Pathmark's operations were in far worse condition than had been represented to investors; (iii) that Great Atlantic was not operating according to internal expectations and could not achieve the guidance sponsored and/or endorsed by defendants; and (iv) that, as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the company, its operations and prospects. It is further alleged that, as a result of these false and misleading statements, Great Atlantic's stock traded at artificially inflated prices during the class period.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of complex business litigation matters, including claims of investor and stockholder fraud, shareholder oppression, shareholder derivative suits, and security class actions.
Contacts:
Powers Taylor, LLP
Patrick Powers, 877-728-9607
patrick@powerstaylor.com
or
The
Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
