An investigation on behalf of current long term investors in Fairway Group Holdings Corp (NASDAQ:FWM) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:FWM stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 05/07/2014 -- An investigation on behalf of current long-term investors in shares of Fairway Group Holdings Corp (NASDAQ:FWM) over potential breaches of fiduciary duties by certain officers and directors of Fairway Group Holdings was announced.
Investors who are current long term investors in Fairway Group Holdings Corp (NASDAQ:FWM) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in NASDAQ:FWM stocks follows a lawsuit filed recently against Fairway Group Holdings Corp over alleged securities laws violations. . The investigation on behalf of current long term investors in NASDAQ:FWM stocks concerns whether certain Fairway Group Holdings officers and directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. Southern District of New York the plaintiff alleges that Fairway Group Holdings Corp violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the plaintiff claims that the defendants made allegedly false and/or misleading statements and/or failed to disclose that Fairway Group Holdings Corp's same store sales were declining, that Fairway Group Holdings Corp’s direct store expenses were increasing, that Fairway Group Holdings Corp’s financial forecasts were wholly unrealistic, and that as a result of the foregoing, Fairway Group Holdings Corp's public statements were materially false and misleading at all relevant times.
On February 6, 2014, Fairway Group Holdings Corp reported its fiscal 2014 third quarter results. Among other things, Fairway Group Holdings Corp disclosed that it had a net loss of 74 cents per share.
Shares of Fairway Group Holdings Corp (NASDAQ:FWM) declined from over $11 per share on February 6, 2014, to a close of $6.62 per share on May 5, 2014.
Those who purchased shares of Fairway Group Holdings Corp have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com