Case Page

 

Case Status:    DISMISSED    
On or around 11/06/2013 (Notice of voluntarily dismissal)

Filing Date: May 07, 2013

According to the law firm press release, Vitamin Shoppe, through its subsidiaries, operates as a specialty retailer and direct marketer of nutritional products in the United States.

The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company’s operations, business trends and same-store sales trends. Specifically, defendants failed to disclose that: (i) Vitamin Shoppe’s business was then being negatively impacted by competition from on-line retailers which were significantly reducing prices on popular supplements; (ii) GNC’s new discount program was negatively impacting the Company’s sales growth; and (iii) the Company was experiencing declining same-store sales trends. As a result of defendants’ false and misleading statements, Vitamin Shoppe common stock traded at artificially inflated prices, enabling Company insiders to sell more than $30 million of their personally held Vitamin Shoppe common stock at inflated prices during the Class Period.

Then, on February 25, 2013, according to the complaint, after guiding toward strong fiscal 2012 sales and profits during the Class Period, Vitamin Shoppe announced lackluster financial results for the Company’s fiscal and fourth quarter 2012. In response, the price of the Company’s stock fell $11.86 per share, or more than 18.76% that day.

On August 9, 2013, the Beaver County Employees Retirement Fund was appointed Lead Plaintiff for the Class and Robbins Geller Rudman & Dowd LLP was appointed Lead Counsel.

On November 4, 2013, pursuant to Federal Rule of Civil Procedure 41(a)(l)(A)(ii), the case voluntarily dismissed without prejudice as to the class and with prejudice as to the Lead Plaintiff.

COMPANY INFORMATION:

Sector:
Industry:
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VSI
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: D. New Jersey
DOCKET #: 13-CV-02928
JUDGE: Hon. Stanley R. Chesler
DATE FILED: 05/07/2013
CLASS PERIOD START: 05/08/2012
CLASS PERIOD END: 02/25/2013
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Ademi & O'Reilly, LLP
    3620 East Layton Ave., Ademi & O'Reilly, LLP, WI 53110
    866-264-3995 414-482-8001 · inquiry@ademilaw.com
  2. Cohn, Lifland, Pearlman, Herrmann & Knopf
    Park 80 Plaza West-One, Cohn, Lifland, Pearlman, Herrmann & Knopf, NJ 7663
    201845.9600 · info@njlawfirm.com
  3. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
No Document Title Filing Date