LOS ANGELES--(BUSINESS WIRE)--Glancy Binkow & Goldberg LLP announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of a class (the “Class”) comprising all purchasers of the securities of Fairway Group Holdings Corp. (“Fairway” or the “Company”) (NASDAQ:FWM) between April 16, 2013 and February 6, 2014, inclusive (the “Class Period”).
If you purchased Fairway securities during the Class Period, please contact us toll-free at (888) 773-9224, or at (212) 682-5340, or by email to firstname.lastname@example.org to discuss this matter.
Fairway, together with its subsidiaries, operates retail food stores in New York, New Jersey and Connecticut offering fresh produce, natural and organic products, meat and seafood, bakery products and kosher foods. The Complaint alleges that during the Class Period the Company and certain of its executive officers misrepresented or failed to disclose that Fairway’s same store sales were declining, its direct store expenses were increasing, and the Company's financial forecasts were unrealistic and not obtainable. On February 6, 2014, the Company reported earnings for its fiscal 2014 third quarter that were significantly below management’s prior forecasts, including decreased same store sales and higher expenses, causing a nearly 30% drop in the price of the Company’s shares, or $3.31 per share, on February 7, 2014.
If you purchased Fairway securities during the Class Period, you may move the Court no later than April 15, 2014, to serve as lead plaintiff, if you 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, 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 email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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