Robbins Umeda LLP Announces Investigation of Vitacost.com, Inc.

Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Vitacost.com, Inc. ("Vitacost.com" or the "Company") (NASDAQ: VITC). Vitacost.com operates as an online retailer and direct marketer of health and wellness products. It offers dietary supplements, such as vitamins, minerals, herbs or other botanicals, amino acids, and metabolites, as well as cosmetics, organic body and personal care products, sports nutrition, and health foods. The Company was founded in 1994 and is headquartered in Boca Raton, Florida.

Robbins Umeda LLP's investigation concerns whether the Company's directors and officers caused the Company to make materially false and misleading representations regarding Vitacost.com's business and prospects. Specifically, Robbins Umeda is investigating whether the Company's fiduciaries caused the Company to push excess product to customers to mask declining demand, did not maintain adequate internal controls at the Company, and then failed to disclose this material information.

On April 20, 2010, after the market closed, Vitacost.com issued a press release announcing updated guidance for revenue and fully diluted earnings per share for the first quarter ending on March 31, 2010 and full year 2010. Contrary to the prior statements by the Company's fiduciaries in which they emphasized the Company's strong business prospects and growth strategies, Vitacost.com cut its first-quarter and full-year profit and revenue estimates, citing disappointing sales along with manufacturing problems. Upon this news, shares of Vitacost.com stock declined $3.02 per share, or 24%, to close on April 21, 2010 at $9.54 per share.

If you purchased your shares of Vitacost.com stock prior to September 24, 2009, continue to hold your shares, and would like more information about your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at inquiry@robbinsumeda.com.

Robbins Umeda LLP is a California-based law firm, which has significant experience representing investors in shareholder derivative actions, securities fraud class actions, and merger-related shareholder class actions. For more information about the firm, please go to http://www.robbinsumeda.com.

Versatech (NASDAQ:VITC)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024