A shareholder class action complaint has been filed against Vitamin Shoppe, Inc. (NYSE: VSI) alleging the company issued materially false and misleading information regarding its operations, business trends and same-store sales trends. The class action lawsuit was filed in New Jersey federal court on behalf of purchasers of Vitamin Shoppe between May 8, 2012 and February 25, 2013.
According to the complaint, Vitamin Shoppe failed to disclose that its business was being negatively impacted by competition from online retailers which were significantly reducing prices on popular supplements and GNC’s new discount program was negatively impacting the company’s sales growth. Shares of Vitamin Shoppe fell 18.76% on February 25, 2013, after announcing lackluster financial results for the company’s fiscal and fourth quarter 2012.
If you purchased shares of Vitamin Shoppe between May 8, 2012 and February 25, 2013, you may file a motion with the court no later than July 8, 2013, and request that the court appoint you as lead plaintiff. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. To be appointed lead plaintiff, the court must decide that your claim is typical of the claims of other class members and that you will adequately represent the class. Your share in any recovery will not be enhanced or diminished by your decision of whether or not to serve as a lead plaintiff. You can recover as an absent class member without moving for lead plaintiff.
Categories: Class Actions of Interest