San Diego, CA -- (SBWIRE) -- 09/25/2012 -- An investigation for current long term stockholders in shares of Big Lots, Inc. (NYSE:BIG) over potential breaches of fiduciary duties at Big Lots was announced.
Investors who are current long-term stockholders in 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 possible breaches of fiduciary duty by certain officers and directors of Big Lots, Inc. According to the investigation Big Lots, Inc.has spent $46 million to repurchase 1.3 million shares in the fourth quarter, while certain insiders have sold almost $1,000,000 shares and options over the past year.
On February 2, 2012, Big Lots, Inc announced its fourth fiscal quarter 2011 results. Among other things, Big Lots, Inc reported an increase of 7.7% in its retail sales for U.S. operations for the fourth fiscal quarter of 2011. Furthermore, Big Lots, Inc said it increases its fourth quarter EPS guidance.
Shares of Big Lots, Inc. (NYSE:BIG) rose from $37.58 per share in mid-January to as high as $45.87 per share on April 20, 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 $45.71 per share on April 23, 2012 to a close of $34.71 per share on April 24, 2012.
Then on August 23, 2012, Big Lots, Inc. reported its second quarter EPS and provided an update on EPS and Cash Flow guidance.
Shares of Big Lots, Inc. (NYSE:BIG) fell from $38.84 per share on August 22, 2012, to $30.28 per share on August 24, 2012.
On September 24, 2012, NYSE:BIG shares closed at $30.87 per share, which is significantly below its 52 week High of $47.22 per share.
Those who are current long-term stockholders in shares of Big Lots, Inc. (NYSE:BIG), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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