BENSALEM, Pa.--(BUSINESS WIRE)--
Law Offices of Howard G. Smith continues its investigation on behalf of Vitamin Shoppe, Inc. (“Vitamin Shoppe” or the “Company”) (NYSE: VSI) investors concerning the Company and its officers’ possible violations of federal securities law.
The investigation concerns the Company’s alleged failure to disclose problems with the Company’s reinvention plan. On May 10, 2017, Vitamin Shoppe released poor first quarter 2017 financial results and slashed the Company’s fiscal 2017 guidance by 45%, and claimed the Vitamin Shoppe’s “reinvention plan” was still succeeding. On this news, the price of Vitamin Shoppe stock declined by one-third to close at $12.70 per share.
Then, on August 9, 2017, Vitamin Shoppe announced that it was taking a $168.1 million impairment charge relating to the Company’s retail segment, and that, as a result, Vitamin Shoppe would report a loss per share of $6.73. In addition, the Company dropped its fiscal 2017 earnings per share guidance altogether. On this news, Vitamin Shoppe’s common stock plunged again, falling $3.50 per share to close at $6.10 per share.
If you purchased Vitamin Shoppe securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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