An investigation for investors in PriceSmart, Inc. (NASDAQ: PSMT) shares over potential securities laws violations by PriceSmart, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 02/04/2019 -- An investigation was announced concerning possible violations of securities laws by PriceSmart and certain of its directors and officers in connection with certain financial statements.
Investors who purchased shares of PriceSmart, Inc. (NASDAQ: PSMT), have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of PriceSmart, Inc. (NASDAQ: PSMT) concerning whether a series of statements by PriceSmart, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
San Diego, CA PriceSmart, Inc. owns and operates U.S. style membership shopping warehouse clubs in Central America, the Caribbean, and Colombia. On October 25, 2018, PriceSmart, Inc. filed a Form with the Securities and Exchange Commission disclosing non-reliance on previously issued financial statements, citing discovery of "balance sheet misclassification." According to the form, the Audit Committee met on October 24, 2018 and determined that, as a result of the misclassification, certain financial statements would need to be restated; in addition, PriceSmart also "expects to include in its Form 10-K a conclusion that there was a material weakness in internal controls over financial accounting related to this misclassification."
Those who purchased shares of PriceSmart, Inc. (NASDAQ: PSMT) have certain options and should contact the Shareholders Foundation.
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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