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Vitamin Shoppe Inc (NYSE: VSI) Investor Securities Class Action Lawsuit 05/07/2013

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

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Lawsuit Overview

Case Dismissed
Company
Vitamin Shoppe Inc
Security
NYSE: VSI

Case Name
Vitamin Shoppe Shareholder Class Action Lawsuit 05/07/2013
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the District of New Jersey

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

November 6, 2013 - The lead plaintiff filed a notice of voluntary dismissal with prejudice.
August 19, 2013 - The lead plaintiff and lead counsel were appointed.

July 8, 2013 - A lead plaintiff motion was filed.

May 7, 2013 - An investor in shares of Vitamin Shoppe Inc (NYSE: VSI) filed a lawsuit in the U.S. District Court for the District of New Jersey over alleged violations of Federal Securities Laws by Vitamin Shoppe Inc in connection certain allegedly false and misleading statements made between May 8, 2012 and February 25, 2013.

According to the complaint the plaintiff alleges on behalf of purchasers of Vitamin Shoppe Inc (NYSE: VSI) common stock during the period between May 8, 2012 and February 25, 2013, that Vitamin Shoppe Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing allegedly materially false and misleading statements regarding the Company’s operations, business trends and same-store sales trends.

The plaintiff claims that defendants allegedly failed to disclose that Vitamin Shoppe Inc’s business was then being negatively impacted by competition from on-line retailers which were significantly reducing prices on popular supplements, that GNC’s new discount program was negatively impacting Vitamin Shoppe Inc’s sales growth and that Vitamin Shoppe Inc was experiencing declining same-store sales trends.

Vitamin Shoppe Inc reported that its total Revenue rose from $674.50 million for the 52 weeks period that ended on Dec. 26, 2009 to $856.59 million for the 52 weeks period that ended on Dec. 31, 2011 and that its respective Net Income increased from $12.67 million to $44.86 million.

Shares of Vitamin Shoppe Inc grew from $17.95 per share in November 2009 to as high as $64.78 per share on February 19, 2013.

Then on Feb. 26, 2013, Vitamin Shoppe Inc its fourth quarter and fully year 2012 results. Vitamin Shoppe Inc reported that its Total Revenue rose to $950.90 million and its Net Income increased to $60.83 million.

Shares of Vitamin Shoppe Inc declined from almost $65 per share on February 19, 2013 to $51.44 per share on Feb. 26, 2013.

Then on May 7, 2013, Vitamin Shoppe Inc announced its first quarter 2013 results.

Shares of Vitamin Shoppe Inc declined from $49.70 per share on May 6, 2013 to as low as $44.34 per share on May 7, 2013.