August 27, 2013 (Update) - On August 22, 2013, Stein Mart, Inc. disclosed that on July 24, 2013, the Securities and Exchange Commission (the SEC) informed Stein Mart, Inc. that it was conducting an investigation of Stein Mart, Inc. and made a request for voluntary production of documents and information.
Stein Mart, Inc. said that based upon the request, it believes the investigation is focused on the Companys recent restatement of prior financial statements and the Companys change in auditors.

Shares of Stein Mart, Inc. declined from almost $25 per share in July 2013 to $12.27 per share on August 23, 2013.

On August 27, 2013, NASDAA:SMRT shares closed at $12.36 per share.

Mar. 12, 2013 (Update) -- On March 7, 2013, Stein Mart, Inc announced that it received a notice from the Staff of The NASDAQ Stock Market LLC related to late filings. Shares of Stein Mart, Inc. (NASDAQ:SMRT) closed on March 12, 2013, at $8.56 per share.

Dec. 14, 2012 (Shareholders Foundation) -- An investigation on behalf of investors of Stein Mart, Inc. (NASDAQ:SMRT) shares over potential securities laws violations by Stein Mart, Inc. and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Stein Mart, Inc. (NASDAQ:SMRT) concerning whether a series of statements by Stein Mart, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Stein Mart, Inc. (NASDAQ:SMRT) reported that its Total Revenue declined from over $1.18 billion for the 52 weeks period that ended on Jan. 31, 2011 to over $1.16 billion for the 52 weeks period that ended on Jan. 28, 2012 and that its Net Income for the respective time periods fell from $48.75 million to $19.83 million.


Then on November 6, 2012, Stein Mart, Inc. announced that it had determined that its earnings release that was scheduled to be issued on November 15, 2012 will be delayed. Then on November 9, 2012, Stein Mart, Inc announced that on November 6, 2012, the Board of Directors of Stein Mart, Inc., based on the recommendation of the Audit Committee and in consultation with management, concluded that because of errors identified in the Companys previously issued financial statements the Company will restate its previously issued financial statements for fiscal years 2009, 2010 and 2011, its quarterly data for the first quarter of 2012 and for all quarters in 2010 and 2011, as well as its selected financial data for the relevant periods.

Shares of Stein Mart, Inc. (NASDAQ:SMRT) declined to as low as $6.75 per share on November 12, 2012.