Shareholders Foundation, Inc.

Cnova NV (NASDAQ:CNV) Shareholder Alert: Investigation over Potential Wrongdoing

An investigation on behalf of investors in NASDAQ:CNV shares over potential wrongdoing at Cnova NV was announced and NASDAQ:CNV stockholders should contact the Shareholders Foundation.


San Diego, CA -- (SBWIRE) -- 03/09/2016 -- An investigation for shareholders of Cnova NV was announced over potential breaches of fiduciary duties by certain Cnova directors.

Investors who purchased shares of Cnova NV (NASDAQ:CNV) have certain options and should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain Cnova officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

Cnova NV reported that its annual Total Revenue rose from over 2.89 billion EUR in 2013 to over 3.47 billion EUR in 2014 while its respective Net Loss increased from 22.49 million EUR to 51.79 million EUR.

On January 28, 2015 Cnova NV announced its financial results for the quarter and fiscal year ended December 31, 2014. Cnova NV announced that Net profit for fourth quarter in 2014 was € 0.8 million, compared to € 13.4 million for in the fourth quarter in 2013.

On December 18, 2015, post-market, Cnova NV announced that its Board of Directors has engaged legal advisors and external forensic accountants to perform a review of issues in connection with employee misconduct related to inventory management. Shares of Cnova NV (NASDAQ:CNV) declined from $8.49 in January 2015 to as low as $2.15 per share on December 22, 2015.

On March 7, 2016, NASDAQ:CNV shares closed at $2.58 per share.

Those who purchased shares of Cnova NV (NASDAQ:CNV), have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739