NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Freshpet, Inc. (NasdaqGM: FRPT).
On November 11, 2015, the Company reported its financial results for Q3 2015 ending September 30, 2015, including a loss of $0.05 per share, lowered guidance for the year, and approximately $2.4 million in lost sales - a stark contradiction to the company’s statements earlier in the year wherein it assured investors that its financial outlook and guidance for 2015 was on track.
Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws. The complaint alleges that the Company failed to disclose numerous complications with its customers that it knew would have a significant negative impact on earnings. Recently, the court in that case denied the Company’s motion to dismiss, allowing the case to move forward.
KSF’s investigation is focusing on whether Freshpet’s officers and/or directors breached their fiduciary duties to Freshpet’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Freshpet shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/nasdaqgm-frpt/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.