Shareholders Foundation, Inc.

Investor Investigation of Best Buy Co., Inc. (NYSE:BBY) over Possible Securities Laws Violations

An investigation for investors in Best Buy Co., Inc. (NYSE:BBY) shares over potential securities laws violations by Best Buy Co., Inc. was announced and NYSE:BBY stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 

San Diego, CA -- (ReleaseWire) -- 01/28/2014 -- An investigation on behalf of investors of Best Buy Co., Inc. (NYSE:BBY) shares over potential securities laws violations by Best Buy Co., Inc. and certain of its directors and officers in connection certain financial statements was announced.

Investors who purchased shares of Best Buy Co., Inc. (NYSE:BBY) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Best Buy Co., Inc. (NYSE:BBY) concerning whether a series of statements by Best Buy Co., Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

While Best Buy Co., Inc. reported that its Total Revenue rose from over $49.24 billion for the 52 weeks period that ended on Feb. 27, 2010 to over $50.7 billion for the 53 weeks period that ended on March 3, 2012, its Net Income of over $1.31 billion for the 52 weeks period that ended on Feb. 27, 2010 declined to a Net Loss of over 41.23 billion for the 53 weeks period that ended on March 3, 2012.

Shares of Best Buy Co., Inc. (NYSE:BBY) declined from as high as $48.58 per share in April 2010 to as low as $11.29 per share in late 2012.

Since then, Best Buy Co., Inc. reported that its Total Revenue declined from over $50.7 billion for the 53 weeks period that ended on March 3, 2012 to over $45.08 billion for the 48 weeks period that ended on Feb. 2, 2013 while its respective Net Loss declined from over $1.23 billion to $441 million.

Shares of Best Buy Co., Inc. (NYSE:BBY) grew from under $12 in late 2012 to as high as $43.26 per share on Oct. 18, 2013.

On January 16, 2014, Best Buy announced preliminary financial results for the 9 weeks ending January 4, 2014.

Shares of Best Buy Co., Inc. (NYSE:BBY) declined from $37.57 per share on January 15, 2014 to $24.43 per share on January 17, 2014.

Those who purchased shares of Best Buy Co., Inc. (NYSE:BBY), have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com