Faruqi & Faruqi, LLP Announces Investigation of Tile Shop Holdings, Inc.
NEW YORK, Nov. 15, 2013 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud claims on behalf of investors of Tile Shop Holdings, Inc. ("Tile Shop" or the "Company") (NASDAQ: TTS).
The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and financial performance.
Tile Shop is purportedly a specialty retailer of manufactured and natural stone tile in the United States with 82 stores as of June 2013. On November 14, 2013, the SeekingAlpha website published a report issued by Gotham City Research, a company that provides research and analysis for special situation investing. The report claims that Tile Shop has used an undisclosed related party and improper accounting practices to drastically overstate its earnings by as much as 200%.
Following this news, on November 14, 2013, Tile Shop stock dropped $7.58 per share, or 35.71%, to close at $13.64 per share, on unusually heavy volume.
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If you lost more than $100,000 investing in Tile Shop stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/TTS. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com or firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding Tile Shop's conduct to contact the firm, including whistleblowers, former employees, shareholders, and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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