WAYNE, Pa., May 8, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/vsi) announces that class action has been filed in the United States District Court for the District of New Jersey on behalf of purchasers of Vitamin Shoppe, Inc. ("Vitamin Shoppe") (NYSE: VSI) common stock during the period between May 8, 2012 and February 25, 2013 (the "Class Period").
For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at [email protected] or visit: www.rmclasslaw.com/cases/vsi.
The complaint charges Vitamin Shoppe and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Vitamin Shoppe, through its subsidiaries, operates as a specialty retailer and direct marketer of nutritional products in the United States.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's operations, business trends and same-store sales trends. Specifically, defendants failed to disclose that: (1) Vitamin Shoppe's business was then being negatively impacted by competition from on-line retailers which were significantly reducing prices on popular supplements; (2) GNC's new discount program was negatively impacting the Company's sales growth; and (3) the Company was experiencing declining same-store sales trends. As a result of defendants' false and misleading statements, Vitamin Shoppe common stock traded at artificially inflated prices, enabling Company insiders to sell more than $30 million of their personally held Vitamin Shoppe common stock at inflated prices during the Class Period.
Then, on February 25, 2013, according to the complaint, after guiding toward strong fiscal 2012 sales and profits during the Class Period, Vitamin Shoppe announced lackluster financial results for the Company's fiscal and fourth quarter 2012. In response, the price of the Company's stock fell $11.86 per share, or more than 18.76% that day.
If you are a member of the class, you may, no later than July 8, 2013, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information about the case or to participate online, please visit: www.rmclasslaw.com/cases/vsi or contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218, or by e-mail at [email protected] For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
SOURCE Ryan & Maniskas, LLP