NEW YORK, NY / ACCESSWIRE / July 3, 2019 / 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. (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 to http://www.rosenlegal.com/cases-register-1581.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email email@example.com or firstname.lastname@example.org 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) PriceSmart's omni-channel business strategy had failed to reach key operating goals; (2) PriceSmart's South America distribution strategy had failed to realize key cost saving goals; (3) PriceSmart 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 PriceSmart's internal controls over financial reporting; (7) increasing competition negatively impacted PriceSmart'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 email@example.com or firstname.lastname@example.org.
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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. Attorney Advertising.
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
SOURCE: Rosen Law Firm
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