IRVINE, CA / ACCESSWIRE / September 20, 2017 / Khang & Khang LLP (the "Firm") announces a securities class action lawsuit against Vitamin Shoppe, Inc. ("Vitamin Shoppe" or the "Company") (NYSE: VSI). Investors who purchased or otherwise acquired shares from March 1, 2017 through August 6, 2017, inclusive (the "Class Period"), are encouraged to contact the Firm in advance of the October 27, 2017 lead plaintiff motion deadline.
If you purchased Vitamin Shoppe shares during the Class Period, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, throughout the Class Period, Vitamin Shoppe made false and/or misleading statements, and/or failed to disclose: that the Company's retail segment was continuing to dramatically decline; that its ongoing "reinvention plan" had been unsuccessful and brought more than $168 million in goodwill impairment, and it was not properly recognizing that impairment charge; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times. On May 10, 2017, Vitamin Shoppe released first quarter 2017 financial results that were lower than market expectations and slashed its fiscal 2017 guidance by 45%, yet claimed the "reinvention plan" was still succeeding. Following this news, the Company's stock price fell dramatically. On August 9, 2017, the Company 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 it would report a loss per share of $6.73. Also, 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 dropped its fiscal 2017 earnings per share guidance altogether. When this information reached the public, the Company's shares fell in value materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at joon@khanglaw.com.
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Contact
Joon M. Khang, Esq.
Telephone: 949-419-3834
Facsimile: 949-225-4474
joon@khanglaw.com
SOURCE: Khang & Khang LLP
