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If you purchased shares of WMS Industries Inc. (NYSE:WMS) between November 1, 2010 and April 11, 2011, and/or if you have any information relating the investigation, including former employees and/or whistleblowers, you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
An investigation on behalf of investors in shares of WMS Industries Inc. (NYSE:WMS) over possible violations of Federal Securities laws was announced.
The investigation by a law firm focuses on whether a series of statements made between November 1, 2010 and April 11, 2011, inclusive, regarding WMS Industries business, its prospects and its operations were materially false and misleading at the time they were made.
WMS Industries reported over the past four filing periods an increase in its 12months Total Revenue from $539.80million to $765.10million. Its Net Income rose over the same time frame from $48.90million to $112.90million.
Shares of WMS Industries Inc. (Public, NYSE:WMS) rose from as low as $16.02 per share during March 2009 to over $50 during 2010. During the first months in 2011 WMS shares fell from over $47 per share in January to roughly $35 at the beginning of April.
Specifically, the investigation focuses on, among other thing, whether WMS Industries overstated demand for its products and the financial impact of new product launches.
On April 11, 2011 after the market closed WMS Industries Inc. reported its preliminary Fiscal 2011 Third Quarter Results, issued its Fiscal Year 2012 guidance and lowered its Fiscal Year 2011 Revenue Guidance.
WMS shares fell from $36.22 on April 11 to $29.94 on April 12 and have since then regained value to almost $34 per WMS share.
