An investigation for investors in Costco Wholesale Corporation (NASDAQ:COST) shares over potential securities laws violations by Costco Wholesale was announced and NASDAQ:COST stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 10/14/2015 -- Costco Wholesale Corporation is under investigation over potential Securities Laws Violations. The investigation for shareholders in NASDAQ:COST shares was announced in connection certain financial statements.
Investors who purchased shares of Costco Wholesale Corporation (NASDAQ:COST), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation or call 858-779-1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Costco Wholesale Corporation (NASDAQ:COST) concerning whether a series of statements by Costco Wholesale regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Costco Wholesale Corporation reported that its Total Revenue rose from over $88.91 billion for the 52 weeks period that ended on August 28, 2011 to over $112.64 billion for the 52 weeks period that ended on August 31, 2014 and that its respective Net Income increased from over $1.46 billion to $2.05 billion.
According to a lawsuit filed in 2015 against Costco Wholesale Corporation by a California resident, Costco Wholesale Corporation allegedly purchases shrimp from Thailand-based company Charoen Pokphand Foods Public Company Limited, the biggest shrimp farmer in the world.
Charoen Pokphand Foods Public Company Limited, in turn, feeds its shrimp with fishmeal that is purchased from companies that have been reported to engage in horrific human rights abuses.
Leading world news organizations, which conducted a lengthy investigation into slavery on Thai fishing vessels, have documented egregious circumstances where fishermen are forced to work in inhumane conditions – where some fishermen have been shackled, beaten or tortured, and many have been murdered. According to one news outlet, Charoen Pokphand Foods Public Company Limited has admitted that slave labor is part of its supply chain.
Shares of Costco Wholesale Corporation (NASDAQ:COST) closed on October 12, 2015, at $153.63 per share.
Those who purchased shares of Costco Wholesale Corporation have certain options and should contact the Shareholders Foundation.
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