DENVER, CO--(Marketwire -08/23/12)- Dyer & Berens LLP (www.DyerBerens.com) today announced that a class action lawsuit has been filed in the United States District Court for the Southern District of Ohio on behalf of all persons who purchased or otherwise acquired Big Lots, Inc. (BIG) common stock between February 2, 2012 and April 23, 2012, inclusive (the "Class Period").
What actions may I take at this time? If you purchased or acquired shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment no later than September 7, 2012. A "lead plaintiff" works with counsel to direct the litigation and participates in important decisions, including the amount of compensation to accept in settlement of the class action. Members of the putative class may seek appointment through counsel of their choice, or may choose to do nothing and remain absent class members.
If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at firstname.lastname@example.org.
What are the allegations in the complaint? The complaint contains allegations that, during the Class Period, defendants issued materially false and misleading statements regarding the company's business. Specifically, the complaint alleges that defendants misrepresented and withheld material adverse facts from investors including that, among other things: (i) Big Lots' consumables line, consisting of household, beauty and health items, was deteriorating; and (ii) the company's electronic products business was being adversely affected as shoppers were increasingly looking at online deals for these big ticket products, which adversely affected the company's margins and prospects. Based upon the foregoing, the complaint charges the company and certain of its officers with violations of the Securities Exchange Act of 1934.
About Dyer & Berens LLP. Dyer & Berens LLP and its attorneys represent investors in securities class action lawsuits, and over the years have recovered hundreds of millions of dollars for their clients. For more information, please go to: www.DyerBerens.com.