EQUITY ALERT: Rosen Law Firm Announces Filing of Securities Class Action Lawsuit Against PriceSmart, Inc.
NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces the filing
of a class action lawsuit on behalf of purchasers of the securities of
PriceSmart, Inc. (NASDAQ: PSMT) from October 26, 2017 through October
25, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover
damages for PriceSmart investors under the federal securities laws.
To join the PriceSmart class action, go http://www.rosenlegal.com/cases-register-1581.html
or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com
or cases@rosenlegal.com for
information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS
CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU
MAY RETAIN COUNSEL OF YOUR CHOICE. YOU MAY ALSO REMAIN AN ABSENT CLASS
MEMBER AND DO NOTHING AT THIS POINT. AN INVESTOR’S ABILITY TO SHARE IN
ANY POTENTIAL FUTURE RECOVERY IS NOT DEPENDENT UPON SERVING AS LEAD
PLAINTIFF.
According to the lawsuit, defendants throughout the Class Period made
false and/or misleading statements and/or failed to disclose that: (1)
the Company’s omni-channel business strategy had failed to reach key
operating goals; (2) the Company’s South America distribution strategy
had failed to realize key cost saving goals; (3) the Company had
invested Trinidad and Tobago dollars into certificates of deposits with
financial institutions; (4) these investments had been improperly
classified as cash and cash equivalents; (5) the relevant corrections
would materially impact financial statements; (6) there was a material
weakness in the Company’s internal controls over financial reporting;
(7) increasing competition negatively impacted the Company’s revenue and
profitability; and (8) as a result, PriceSmart’s public statements were
materially false and misleading at all relevant times. When the true
details entered the market, the lawsuit claims that investors suffered
damages.
A class action lawsuit has already been filed. If you wish to serve as
lead plaintiff, you must move the Court no later than July 22, 2019. A
lead plaintiff is a representative party acting on behalf of other class
members in directing the litigation. If you wish to join the litigation,
go to http://www.rosenlegal.com/cases-register-1581.html
or to discuss your rights or interests regarding this class action,
please contact Phillip Kim, Esq. of Rosen Law Firm toll free at
866-767-3653 or via e-mail at pkim@rosenlegal.com
or cases@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating
its practice in securities class actions and shareholder derivative
litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class
Action Services for number of securities class action settlements in
2017. The firm has been ranked in the top 3 each year since 2013. Rosen
Law Firm has secured hundreds of millions of dollars for investors.
Contacts
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275
Madison Avenue, 34th Floor
New York, NY 10016
Tel:
(212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com