Vitamin Shoppe Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS--(BUSINESS WIRE)-- 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 a federal class action lawsuit has been filed against Vitamin Shoppe, Inc. ("Vitamin Shoppe" or "Company") (NYS: VSI) . The firms are investigating additional legal claims against the officers and Board of Directors of Vitamin Shoppe during the period of May 8, 2012 and February 25, 2013 (the "Class Period").
If you are an affected investor and you want to learn more about the lawsuit or join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214) 239-4568, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or fee to you.
In a recently filed federal class action complaint, Vitamin Shoppe and certain of its officers and directors were charged with violating certain provisions of the Securities Exchange Act of 1934. Specifically, the complaint alleges that among other things, defendants misrepresented and/or failed to disclose that: (a) Vitamin Shoppe was then being negatively impacted by competition from on-line retailers which were significantly reducing prices on popular supplements; (b) GNC's new discount program was negatively impacting the Company's sales growth; and (c) the Company was experiencing declining same-store sales trends. According to the complaint, when the true facts came to light and the Company announced poor financial results for it's fiscal and fourth quarter 2012, the price of the stock fell substantially.
Shareholder rights attorney Willie Briscoe said, "Recent revelations about alleged improper business practices and procedures regarding key aspects of Vitamin Shoppe's business and other misleading financial statements have prompted the firms to investigate possible breaches of fiduciary duties and other violations of state law by Vitamin Shoppe's officers and directors. Based on our investigation, we are prepared to pursue litigation to preserve the company and the value of Vitamin Shoppe's stock for all shareholders."
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.
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The article Vitamin Shoppe Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors originally appeared on Fool.com.
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