SAN DIEGO--(BUSINESS WIRE)--Shareholder Rights Law Firm Johnson & Weaver, LLP announced today that it is investigating whether certain officers and directors of Fairway Group Holdings Corp. (NASDAQ:FWM) violated state or federal laws.
On February 6, 2014, Fairway announced its results for the fourth quarter of 2014 and disclosed that CEO, Herbert Ruetsch, would retire. In the news release, the Company stated its net loss was more than analysts expected. Furthermore, Fairway reported negative same-store sales and total revenue was lower than analysts anticipated.
Fairway’s stock price closed at $7.36 on Friday, February 14, 2014 down over 35% since this news was announced. The Company’s opening IPO price in April 2013 was $18.00. This investigation seeks to determine whether shareholders were harmed by misleading public statements concerning Fairway’s financial performance and prospects.
If you are a shareholder of Fairway and would like additional information concerning your legal rights, please contact lead analyst Jim Baker (firstname.lastname@example.org) at (619) 230-0063.
Johnson & Weaver, LLP is a nationally recognized shareholders’ rights law firm. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com.