NEW YORK, May 18, 2013 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Vitamin Shoppe, Inc. ("Vitamin Shoppe" or the "Company") (VSI).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) Vitamin Shoppe's business was being negatively impacted by competition from online retailers who were significantly reducing prices on popular supplements; (2) GNC's new discount program was negatively impacting the Company's sales growth; and (3) the Company was experiencing declining same-store sales trends. While Vitamin Shoppe's common stock traded at artificially inflated prices, Company insiders sold more than $30 million of their personally held Vitamin Shoppe shares.
On February 25, 2013, Vitamin Shoppe announced disappointing financial results for the Company's fiscal and fourth quarter 2012 despite having previously guided toward strong fiscal sales and profits since May 2012. In response, the price of the Company's stock fell $11.86 per share, or more than 18.76% that day.
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If you invested in Vitamin Shoppe stock or options between May 8, 2012 and February 25, 2013 and would like to discuss your legal rights, visit www.faruqilaw.com/VSI. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Vitamin Shoppe's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330