LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces the filing of a class action lawsuit on behalf of investors who purchased Vitamin Shoppe, Inc. (“Vitamin Shoppe” or the “Company”) (NYSE: VSI) securities between March 1, 2017, and August 6, 2017, inclusive (the “Class Period”). Vitamin Shoppe investors have until October 27, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Vitamin Shoppe page on our website at https://www.glancylaw.com/case/vitamin-shoppe-inc.
Investors suffering losses on their Vitamin Shoppe investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
The complaint filed in this class action alleges that, during the Class Period, defendants failed to disclose that the Company’s retail segment was continuing to dramatically decline, as its ongoing “reinvention plan” unsuccessful. In addition, Vitamin Shoppe failed to recognize an impairment charge relating to the Company’s failed reinvention plan.
On May 10, 2017, Vitamin Shoppe released poor first quarter 2017 financial results and slashed the Company’s fiscal 2017 guidance by 45%, and still claimed the Vitamin Shoppe’s “reinvention plan” was still succeeding. On this news, the price of Vitamin Shoppe stock declined by one-third to close at $12.70 per share.
Then, on August 9, 2017, Vitamin Shoppe announced that it was taking a $168.1 million impairment charge relating to the Company’s retail segment, and that, as a result, Vitamin Shoppe would report a loss per share of $6.73. In addition, the Company dropped its fiscal 2017 earnings per share guidance altogether. On this news, Vitamin Shoppe’s common stock plunged again, falling $3.50 per share to close at $6.10 per share.
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If you purchased shares of Vitamin Shoppe during the Class Period you may move the Court no later than October 27, 2017 to ask the Court to appoint you 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 this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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