Abraham, Fruchter & Twersky, LLP Announces Investigation of Vitacost.com, Inc.
14 5월 2010 - 4:57AM
Business Wire
Abraham, Fruchter & Twersky, LLP has been retained to
commence an investigation concerning possible violations of state
and federal securities laws by Vitacost.com, Inc. (“Vitacost” or
the “Company”) (NASDAQ: VITC) on behalf of purchasers of Vitacost
common share stock (including those shareholders who purchased
shares of Vitacost in its initial public offering in September
2009) between September 24, 2009 through April 20, 2010.
On April 20, 2010, Vitacost announced lower revenue and growth
estimates and disappointing sales due to problems with their
manufacturing processes, increased sales of less profitable items,
and increased shipping costs. Vitacost also revealed that
manufacturing problems at a North Carolina Plant had caused a delay
in $1 to $1.2 million in shipments. Insiders sold $78.5 million in
VITC stock between the September 2009 initial public offering and
their announcement on April 20, 2010, while concealing the problems
from investors. VITC stock dropped over 30% on April 21, 2010 when
the problems with Vitacost were revealed.
If you purchased the common stock of Vitacost.com, Inc. between
September 24, 2009 through April 20, 2010 and would like to discuss
this action, or if you have any questions concerning this notice or
your rights as a potential class member, you may contact: Jack G.
Fruchter or Arthur J. Chen of Abraham, Fruchter & Twersky, LLP
at 212-279-5050, or via e-mail at info@aftlaw.com or
achen@aftlaw.com, respectively.
Abraham, Fruchter & Twersky, LLP has extensive experience in
securities class action cases, and the firm has been ranked among
the leading class action law firms in terms of recoveries achieved
by a survey of class action law firms conducted by Institutional
Shareholder Services.
Attorney Advertising. Prior Results Do Not Guarantee A Similar
Outcome.
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