San Diego, CA -- (ReleaseWire) -- 07/14/2014 -- An investigation on behalf of investors of Potbelly Corp (NASDAQ:PBPB) shares over potential securities laws violations by Potbelly and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Potbelly Corp (NASDAQ:PBPB) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Potbelly Corp (NASDAQ:PBPB) concerning whether a series of statements by Potbelly regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On October 4, 2013 Potbelly Corp stock opened for trading under NASDAQ:PBPB at $28.66. Potbelly Corp sold 7.5 million shares of stock in its initial public stock offering (the “IPO”), raising $105 million in new capital.
Potbelly Corp reported that its Total Revenue rose from $274.91 million for the 53 weeks period that ended on Dec. 30, 2012 to $299.71 million for the 52 weeks period that ended on Dec. 29, 2013. For the first fiscal quarter in 2014 Potbelly Corp reported that its first quarter 2014 revenue rose from $68.74 million last year to $73.9 million this year ending on March 30, 2014.
Then on July 9, 2014, Potbelly Corp provided its preliminary second fiscal quarter 2014 results along with a business update.
Shares of Potbelly Corp (NASDAQ:PBPB) dropped from $15.20 per share on July 9, 2014, to $10.95 per share on July 10, 2014.
Shares of Potbelly Corp (NASDAQ:PBPB) closed on July 11, 2014 at $11.92 per share.
Those who purchased shares of Potbelly Corp (NASDAQ:PBPB), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego