Energy News / Shareholders Foundation, Inc.

Deadline Coming Up on July 22nd in Lawsuit Filed for Investors in Shares of PriceSmart, Inc. (NASDAQ:PSMT)

Via: ReleaseWire

Updated 12:00 PM CDT, Mon, July 22,2019

A Deadline is coming up on July 22, 2019 in the lawsuit for certain investors in PriceSmart, Inc. (NASDAQ: PSMT) and NASDAQ: PSMT stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 07/22/2019 -- The Shareholders Foundation announces that a deadline is coming up on July 22, 2019 in the lawsuit filed for certain investors of PriceSmart, Inc. (NASDAQ: PSMT) over alleged securities laws violations by PriceSmart, Inc.

Investors who purchased shares of PriceSmart, Inc. (NASDAQ: PSMT) have certain options and there are strict and short deadlines running. Deadline: July 22, 2019. NASDAQ: PSMT stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

According to the complaint filed in the U.S. District Court for the Southern District of California the plaintiff alleges on behalf of purchasers of PriceSmart, Inc. (NASDAQ: PSMT) common shares between October 26, 2017 and October 25, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between October 26, 2017 and October 25, 2018, the Defendants failed to disclose to investors that the Company's omni-channel business strategy had failed to reach key operating goals, that the Company's South America distribution strategy had failed to realize key cost saving goals, that the Company had invested Trinidad and Tobago dollars into certificates of deposits with financial institutions, that these investments had been improperly classified as cash and cash equivalents; that the relevant corrections would materially impact financial statements; that there was a material weakness in the Company's internal controls over financial reporting; that increasing competition negatively impacted the Company's revenue and profitability, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of PriceSmart, Inc. (NASDAQ: PSMT) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

For more information on this press release visit:
http://www.sbwire.com/press-releases/deadline-coming-up-on-july-22nd-in-lawsuit-filed-for-investors-in-shares-of-pricesmart-inc-nasdaqpsmt-1248722.htm

Media Relations Contact
Michael Daniels
1-858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com