San Diego, CA -- (ReleaseWire) -- 11/12/2012 -- An investigation on behalf of investors in NYSE:BTH shares was announced concerning whether certain Blyth, Inc. directors and officers breached their fiduciary duties in connection with certain statements.
Investors who purchased shares of Blyth, Inc. (NYSE:BTH), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Blyth officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by, among other things, failing to implement adequate internal controls and potentially misstating the company's financial results.
On August 3, 2012, Blyth, Inc. increased its 2012 Earnings guidance and on August 16, 2012, Blyth, Inc. 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.
However, then on September 26, 2012, ViSalus, a subsidiary of Blyth, Inc., withdrew its initial public offering due to uncertain market conditions.
Shares of Blyth, Inc. (NYSE:BTH) declined from over $45 in August to as low as $15.80 per share on November 7, 2012.
On November 9, 2012, NYSE:BTH shares closed at $17.29 per share.
Those who purchased shares of Blyth, Inc. (NYSE:BTH), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego