San Diego, CA -- (SBWIRE) -- 06/19/2012 -- Certain directors and officers of Big Lots, Inc are under investigation over potential breaches of fiduciary duties in connection with certain financial statements.
Investors who purchased shares of Big Lots, Inc. (NYSE:BIG), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns on whether certain officers and directors at Big Lots, Inc. breached their fiduciary duties. Specifically, the investigation focuses whether certain statements about Big Lots’ business, its prospects and its operations were potentially materially false and misleading at the time they were made.
On March 2, 2012, Big Lots, Inc. reported its results for the fourth quarter of 2011 and fiscal year 2011 and its guidance for its fiscal first quarter of 2012 and fiscal year 2012.
Then on April 23, 2012, after the market closed, Big Lots, Inc. provided an update on its First Quarter Sales Guidance. Big Lots, Inc, among other things, said that it expects U.S. comparable store sales to be slightly negative compared to its prior guidance.
Shares of Big Lots, Inc. (NYSE:BIG) fell from $45.65 per share on April 23, 2012 to a close of $34.71 per share on April 24, 2012.
NYSE:BIG shares closed on June 18, 2012 at $38.12 per share.
Those who purchased shares of Big Lots, Inc. (NYSE:BIG), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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