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 - EconoTimes)
NEW YORK, Sept. 12, 2017 -- The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Vitamin Shoppe, Inc. (NYSE:VSI) who purchased shares between March 1, 2017 and August 8, 2017. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) the Company's retail segment was continuing to dramatically decline, as its ongoing "reinvention plan" was not meeting with success; (2) ongoing changes to the Company's operating plan brought about through this "reinvention plan" had already rendered the more than $168 million in goodwill being carried on Vitamin Shoppe's books for the retail segment impaired and Vitamin Shoppe was improperly delaying recognizing that impairment charge; and (3) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about Vitamin Shoppe's financial prospects.
Shareholders have until October 27, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sb/vitamin-shoppe-inc?wire=3.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Joseph Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com
