LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz is investigating potential claims against the board of directors of PriceSmart, Inc. (“PriceSmart” or the “Company”) (NASDAQ: PSMT) concerning whether the board breached its fiduciary duties to shareholders.
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PriceSmart owns and operates membership shopping warehouse clubs in Central America, the Caribbean, and Columbia. On October 25, 2018, the Company disclosed that certain financial statements would be restated to correct a balance sheet misclassification of certain assets and that its Chief Executive Officer had resigned.
Our investigation concerns whether the Company’s board of directors breached its fiduciary duties to shareholders and/or grossly mismanaged the Company in connection with the foregoing accounting issues.
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If you own PriceSmart shares and wish to discuss this matter with us, or have any questions concerning your rights and interests with regards to this matter, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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