San Diego, CA -- (SBWIRE) -- 02/28/2012 -- A deadline is coming up on March 13, 2012 in the lawsuit filed for certain investors in NYSE:CPY shares over alleged Securities Laws Violations by CPI Corp.
Investors with a substantial investment in NYSE:CPY shares between April 20, 2010 and December 21, 2011, should get active before the Deadline and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Eastern District of Missouri the plaintiff alleges on behalf of purchasers of CPI Corp. (NYSE:CPY) between April 20, 2010 and December 21, 2011, that CPI Corporation and certain of its officers and directors violated the Securities Exchange Act of 1934 by allegedly issuing materially false and misleading statements regarding CPI Corp’s business and financial results.
Specifically the plaintiff alleges that the defendants represented that CPI Corp’s initiatives to grow the business were working, that it was well positioned for growth and that its stock was a "good investment" when it was trading at $22 per share.
Then on December 22, 2011, CPI Corp. had announced its financial results for its third fiscal quarter ended November 12, 2011.
CPI Corp. reported a net loss of ($7.25) million or ($1.03) diluted earnings per share for the third quarter and that net sales declined 11% to $95.0 million.
Those who purchased shares of CPI Corp. (NYSE:CPY) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego