October 18, 2013 (Shareholders Foundation) - An investigation on behalf of investors, who purchased shares of Best Buy Co., Inc. (NYSE:BBY) in 2010 or earlier and currently hold any of those NYSE:BBY shares, was announced concerning whether certain Best Buy officers and directors possibly breached their fiduciary duties in connection with certain statements.

The investigation by a law firm concerns, among other things, whether certain Best Buy Co. officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by failing to implement adequate internal controls.
While Best Buy Co., Inc. reported that its Total Revenue rose from over $49.24 billion for the 52 weeks period that ended on Feb. 27, 2010 to over $50.7 billion for the 53 weeks period that ended on March 3, 2012, its Net Income of over $1.31 billion for the 52 weeks period that ended on Feb. 27, 2010 declined to a Net Loss of over 41.23 billion for the 53 weeks period that ended on March 3, 2012.

Shares of Best Buy Co., Inc. (NYSE:BBY) declined from as high as $48.58 per share in April 2010 to as low as $11.29 per share in late 2012.

Since then, Best Buy Co., Inc. reported that its Total Revenue declined from over $50.7 billion for the 53 weeks period that ended on March 3, 2012 to over $45.08 billion for the 48 weeks period that ended on Feb. 2, 2013 while its respective Net Loss declined from over $1.23 billion to $441 million.

Shares of Best Buy Co., Inc. (NYSE:BBY) grew from under $12 in late 2012 to as high as $43.26 per share on Oct. 18, 2013.