An investigation on behalf of investors of investors in Office Depot, Inc. (Public, NYSE:ODP) shares over potential violations of Federal Securities Laws by Office Depot, Inc.

The investigation by a law firm focuses on potential violations of the federal securities laws in connection with certain financial statements.
Office Depots 12months Total Revenue went from $15.527billion to $11.633billion. Its Net Income went from a Net Income of $295.62million in 2007 to a Net Loss of $1.478billion in 2008 to a Net Loss of $596.47million in 2009 to a Net Income of $34.89million in 2010.

Shares of Office Depot, Inc. (NYSE: ODP) traded as high as $43.64 during 2006 and fell in 2009 to as low as $0.68 per share in 2009. During 2010 ODP shares regained some value and traded as high as $8.45 per share, roughly 20% of the highest value during 06. During the first months in 2011 ODP shares fell from over $6 to $4.72 on March 28, 2011. Then on March 31, 2011, after the markets closed, Office Depot issued a press release announcing that the Internal Revenue Service had denied its claim to carry back certain tax losses to prior tax years. As a result, the Company is restating the fiscal year ended December 25, 2010 and the quarters ended June 26, 2010 and September 25, 2010. The adjustment is expected to change its previously reported full-year 2010 net earnings of $33 million to a net loss of $46 million and increase the net loss attributable to common shareholders to $82 million, or 30 cents a share, from $2 million, or a penny a share. Additionally, a $63 million current tax receivable associated with the carry back amount will be removed from the balance sheet, resulting in an adverse impact to its 2011 operating cash flow.

Shares of Office Depot, Inc. fell to $3.78 per share during April 1 trading.