BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of a class (the “Class”) comprising purchasers of the securities of Boulder Brands, Inc. (“Boulder” or the “Company”) (NASDAQ:BDBD) between December 23, 2013 and October 22, 2014, inclusive (the “Class Period”).
Boulder is a company that makes and markets food products for sale to consumers. The Complaint alleges that the defendants concealed that: (1) the Company was experiencing significant acquisition integration issues; (2) the increased execution complexity caused by the expansion of brands and product portfolio created significant inventory and supply chain problems within the Company; (3) the market for the Company's Smart Balance products was decelerating significantly, creating margin pressures; (4) the Company was experiencing service issues and inventory control problems; and (5) as a result of the foregoing, defendants' statements regarding the Company's financial performance, margins and margin improvement projects, and expected earnings were false and misleading.
On October 22, 2014, the Company disclosed that during "the third quarter, we faced a number of headwinds that impacted our financial results" and that it was "expecting lower shipments due to a normalizing of certain inventories at our largest customer.” On this news, Boulder’s shares declined over 24%.
If you are a member of the Class described above, you may move the Court no later than June 1, 2015, 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. If you wish to learn more about this action, or if you have any questions concerning your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.