NEW YORK, July 05, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of PriceSmart, Inc. (“PriceSmart” or the “Company”) (PSMT). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether PriceSmart and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 25, 2018, PriceSmart disclosed disappointing financial and operating results for the fourth quarter and year ended August 31, 2018. PriceSmart also announced that its Chief Executive Officer had resigned and disclosed that certain financial statements would need to be restated to correct a balance sheet misclassification of certain assets.
On this news, PriceSmart’s stock price fell $12.42 per share, or roughly 15.2%, to close at $69.15 per share on October 26, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby