LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that all purchasers of Furniture Brands International, Inc. (“Furniture Brands” or the “Company”) (OTC Markets:FBNIQ) securities between February 13, 2013 and August 5, 2013, inclusive (the “Class Period’), have until October 15, 2013 to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Eastern District of Missouri.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT 212-682-5340, TOLL-FREE AT 888-773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER OR IF YOU PURCHASED FURNITURE BRANDS SHARES PRIOR TO THE CLASS PERIOD. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Furniture Brands engages in designing, manufacturing, sourcing and retailing home furnishings in the United States and internationally. The Company’s trade names include, among others, Thomasville, Broyhill, Lane, Drexel Heritage, and Henredon. The Company carries its trade names on its books as assets, which are tested annually for impairment by comparing the carrying value and fair value of each trade name to determine the amount, if any, of impairment.
The Complaint alleges that during the Class Period defendants issued false and misleading statements or failed to disclose that: (1) the Company was experiencing weaknesses in its wholesale business; (2) the Company’s trade names were being carried at inflated values that would require material impairments; (3) the Company was experiencing severe liquidity issues; (4) and based on the foregoing, the defendants lacked a reasonable basis for their positive statements about the Company during the Class Period.
If you are a member of the Class described above you may move the Court no later than October 15, 2013 to serve as lead plaintiff; however, you must meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
To learn more about this action or if you purchased Furniture Brands shares prior to the Class Period and have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at 888-773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at 212-682-5340, by e-mail to firstname.lastname@example.org, or visit our website at http://www.glancylaw.com.
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