An investigation for investors in Costco Wholesale Corporation (NASDAQ: COST) shares over potential securities laws violations by Costco Wholesale was announced.
San Diego, CA -- (SBWIRE) -- 10/24/2018 -- An investigation was announced over potential securities laws violations by Costco Wholesale in connection with certain financial statements.
Investors who purchased shares of Costco Wholesale Corporation (NASDAQ: COST), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Costco Wholesale Corporation (NASDAQ: COST) concerning whether a series of statements by Costco Wholesale regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Issaquah, WA based Costco Wholesale Corporation, together with its subsidiaries, operates membership warehouses. It offers branded and private-label products in a range of merchandise categories. On October 4, 2018, Costco Wholesale Corporation reported its fourth quarter and fiscal year 2018 operating results. Costco Wholesale Corporation reported that its annual Total Revenue rose from over $129.02 billion for the 12 months period that ended on September 3, 2017 to over $141.57 billion for the 12 months period that ended on September 2, 2018 and that its Net income over those time period increased from $2.67 billion to $3.13 billion. Costco Wholesale Corporation announced that "in its upcoming fiscal 2018 Annual Report on Form 10-K, it expects to report a material weakness in internal control. The weakness relates to general information technology controls in the areas of user access and program change-management over certain information technology systems that support the Company's financial reporting processes. The access issues relate to the extent of privileges afforded users authorized to access company systems."
Shares of Costco Wholesale Corporation (NASDAQ: CSOT) declined from $237.57 per share on October 2, 2018 to $217.79 per share on October 5, 2018.
Those who purchased shares of Costco Wholesale Corporation (NASDAQ: COST) have certain options and should contact the Shareholders Foundation.
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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.
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