San Diego, CA -- (ReleaseWire) -- 11/14/2012 -- An investor in shares of Blyth, Inc. (NYSE:BTH) shares filed a lawsuit in the U.S District Court for the District of Connecticut against Blyth, Inc. over alleged Securities Laws Violations in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Blyth, Inc. (NYSE:BTH), you have certain options and for certain NYSE:BTH investors are short and strict deadlines running. Deadline: January 14, 2013. NYSE:BTH investors should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Blyth, Inc. (NYSE:BTH) common stock during the period between March 14, 2012 and November 6, 2012, that Blyth, Inc. and certain of its officers and directors violated that Securities Exchange Act of 1934 by issuing between March 14, 2012 and November 6, 2012 allegedly materially false and misleading statements regarding the Company's financial performance and future prospects.
Specifically, the plaintiff alleges that the nature and ongoing viability of the strong results being reported for ViSalus, Inc., a multilevel weight loss marketing company Blyth, Inc. owns a controlling interest in, were allegedly being overstated, and that this was masking declining performance in Blyth’s other operating units and product lines.
On August 3, 2012, Blyth, Inc. (NYSE:BTH) increased its 2012 Earnings guidance and on August 16, 2012, Blyth, Inc. (NYSE:BTH) announced that ViSalus has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a potential initial public offering (“IPO”) of its Class A common stock. Blyth, Inc. said that following the IPO, Blyth will continue to own over 50% of ViSalus' common stock.
Shares of Blyth, Inc. (NYSE:BTH) rose to as high as $45.57 per share on August 20, 2012.
Then on September 26, 2012, ViSalus withdrew its initial public offering due to uncertain market conditions.
Shares of Blyth, Inc. (NYSE:BTH) fell from over $45 in August to as low as $24.51 per share on September 27, 2012 and continued to decline to as low as $16.18 on November 13, 2012.
Those who purchased shares of Blyth, Inc. (NYSE:BTH) and currently hold those Blyth, Inc. shares, may have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego