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Blyth Inc (NYSE: BTH) Investor Securities Class Action Lawsuit 11/12/2012

  • If you purchased shares of Blyth Inc (NYSE: BTH), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Blyth, Inc.
Security
NYSE: BTH

Case Name
Blyth Shareholder Class Action Lawsuit 11/12/2012
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of Connecticut

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

March 31, 2014 - The court granted the defendants' motion to dismiss and granted lead plaintiff leave to file an amended complaint.
August 12, 2013 - The defendants filed a motion to dismiss.

July 2, 2013 - The lead plaintiff filed a second amended complaint.

April 12, 2013 - The lead plaintiff filed an amended complaint on behalf of investors who purchased Blyth Inc (NYSE: BTH) common shares between January 13, 2012 and November 6, 2012. The lead plaintiff alleges that the defendants violated the Securities Act of 1934 by issuing false and misleading statements between January 13, 2012 and November 6, 2012.

February 5, 2013 - The lead plaintiff and lead counsel were appointed.

January 14, 2013 - A lead plaintiff motion was filed.

November 13, 2012 - An investor in shares of Blyth Inc (NYSE: BTH) filed a lawsuit in the U.S District Court for the District of Connecticut against Blyth Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between March 14, 2012 and November 6, 2012.

According to the complaint the plaintiff alleges on behalf of purchasers of Blyth Inc (NYSE: BTH) common stock during the period between March 14, 2012 and November 6, 2012, that Blyth Inc and certain of its officers and directors violated that Securities Exchange Act of 1934 by issuing between March 14, 2012 and November 6, 2012 allegedly materially false and misleading statements regarding Blyth Inc's financial performance and future prospects.

Specifically, the plaintiff alleges that the nature and ongoing viability of the strong results being reported for ViSalus, Inc., a multilevel weight loss marketing company Blyth Inc owns a controlling interest in, were allegedly being overstated, and that this was masking declining performance in Blyth Inc’s other operating units and product lines.

On August 3, 2012, Blyth Inc (NYSE: BTH) increased its 2012 Earnings guidance and on August 16, 2012, Blyth Inc (NYSE: BTH) announced that ViSalus has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a potential initial public offering (“IPO”) of its Class A common stock. Blyth Inc said that following the IPO, Blyth Inc will continue to own over 50% of ViSalus' common stock.

Shares of Blyth Inc (NYSE: BTH) rose to as high as $45.57 per share on August 20, 2012.

Then on September 26, 2012, ViSalus withdrew its initial public offering due to uncertain market conditions.

Shares of Blyth Inc (NYSE: BTH) fell from over $45 in August to as low as $24.51 per share on September 27, 2012 and continued to decline to as low as $16.18 on November 13, 2012.