SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Tile Shop Holdings, Inc. - TTS
NEW YORK, Oct. 28, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Tile Shop Holdings, Inc. ("Tile Shop" or the "Company") (NASDAQ: TTS). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Tile Shop and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On October 28, 2014, the Company announced that its founder and Chief Executive Officer, Robert Rucker, will retire as Chief Executive Officer effective January 1, 2015, although Mr. Rucker will remain a member of the Board of Directors and will remain with the Company full time until August 1, 2015 as an advisor. In conjunction with Mr. Rucker's retirement, the Board of Directors appointed the Company's Chief Operating Officer, Chris Homeister, age 45, to the position of Chief Executive Officer, also effective January 1, 2015.
Additionally the Company reported earnings on a Non-GAAP basis, net income for the quarter was $1.6 million, compared to $4.2 million in the comparable prior year period. Non-GAAP earnings per diluted share for the quarter ended September 30, 2014 were $0.03. Non-GAAP earnings per diluted share for the quarter ended September 30, 2013 were $0.08 per share.
On this news, shares of Tile Shop fell $0.94 per share, or more than 11.81%, to $7.02 per share on October 28, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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