BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith reminds investors that all purchasers of the securities of Fairway Group Holdings Corp. (“Fairway” or the “Company”) (FWM) between April 16, 2013 and February 6, 2014, inclusive (the “Class Period”), have until April 15, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.
Fairway, together with its subsidiaries, operates retail food stores in New York, New Jersey and Connecticut offering fresh produce, natural and organic products, meat and seafood, bakery products and kosher foods. The Complaint alleges that during the Class Period the Company and certain of its executive officers misrepresented or failed to disclose that Fairway’s same store sales were declining, its direct store expenses were increasing, and the Company's financial forecasts were unrealistic and not obtainable. On February 6, 2014, the Company reported earnings for its fiscal 2014 third quarter that were significantly below management’s prior forecasts, including decreased same store sales and higher expenses, causing a nearly 30% drop in the price of the Company’s shares, or $3.31 per share, on February 7, 2014.
If you purchased Fairway securities during the Class Period, you may move the Court no later than April 22, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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