An investigation on behalf of current long term investors in PriceSmart, Inc. (NASDAQ: PSMT) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 08/26/2019 -- An investigation was announced for long-term investors in NASDAQ: PSMT shares concerning potential breaches of fiduciary duties by certain directors of PriceSmart, Inc.
Investors who are current long term investors in PriceSmart, Inc. (NASDAQ: PSMT) shares, 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 for current long term investors in NASDAQ: PSMT stocks follows a lawsuit filed against PriceSmart, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: PSMT stocks, concerns whether certain PriceSmart, directors are liable in connection with the allegations made in that lawsuit.
The plaintiff alleges that the Defendants failed to disclose to investors that the Company's omni-channel business strategy had failed to reach key operating goals, that the Company's South America distribution strategy had failed to realize key cost saving goals, that the Company had invested Trinidad and Tobago dollars into certificates of deposits with financial institutions, that these investments had been improperly classified as cash and cash equivalents; that the relevant corrections would materially impact financial statements; that there was a material weakness in the Company's internal controls over financial reporting; that increasing competition negatively impacted the Company's revenue and profitability, and that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Those who purchased shares of PriceSmart, Inc. (NASDAQ: PSMT) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.