Shareholders Foundation, Inc.

Ignite Restaurant Group Inc (NASDAQ:IRG) Investors Alert: Investigation for Those Who Acquired in or Before the IPO in May 2012

An investigation on behalf of investors in Ignite Restaurant Group Inc (NASDAQ:IRG) shares over potential wrongdoing at Starbucks was announced and NASDAQ:IRG stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

 
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San Diego, CA -- (SBWIRE) -- 04/22/2014 -- An investigation on behalf of investors in Ignite Restaurant Group Inc (NASDAQ:IRG) shares was announced over potential breaches of fiduciary duties by certain officers and directors at Ignite Restaurant Group Inc that caused damages to the company and NASDAQ:IRG stockholders.

Investors who acquired shares of Ignite Restaurant Group Inc (NASDAQ:IRG) in or before the IPO in May 2012, 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 concerns whether certain Ignite Restaurant Group officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

Ignite Restaurant Group Inc (NASDAQ:IRG) reported that its Total Revenue increased from $273.36million for the 12months period ending on Dec. 29, 2012 to $405.24million for the 52weeks period ending on Jan 2, 2012 and that its Net Income over the same time periods rose from a Net Loss of $3.21million to a Net Income of $12.06million.

Shares of Ignite Restaurant Group Inc (NASDAQ:IRG0 traded on July 13, 2012 as high as $19.35 per share.

Then on July 18, 2012, Ignite Restaurant Group, Inc. announced that its expected to restate its previously issued financial statements for years 2009 through 2011 and for the first quarter of 2012. The company said that following an internal assessment of its lease accounting policies, it has determined it necessary to correct non-cash related errors related to its accounting treatment of certain leases.

Shares of Ignite Restaurant Group Inc (NASDAQ:IRG) declined to as low as $12.02 per share in late 2012.

On March 20, 2013, Ignite Restaurant Group Inc reported its fourth quarter 2012 financial results. Ignite Restaurant Group Inc reported that its Total Revenue increased from $405.24million for the 52weeks period ending on Jan 2, 2012 to $465.06 million for the 52 weeks period that ended on Dec. 31, 2012.

Shares of Ignite Restaurant Group Inc (NASDAQ:IRG) rose to as high as $20.09 per share in July 2013.

On March 4, 2014, Ignite Restaurant Group Inc reported its fourth quarter 2013 financial results. Ignite Restaurant Group Inc reported that while its Total Revenue rose from $465.06 million for the 52 weeks period that ended on Dec. 31, 2012 to $760.85 million for the 52 weeks period that ended on Dec. 30, 2013, its Net Income of $8.71 million for the 52 weeks period that ended on Dec. 31, 2012 declined from to a Net Loss of $6.58 million for the 52 weeks period that ended on Dec. 30, 2013.

On April 17, 2014, NASDAQ:IRG shares closed at $14.40 per share

Those who purchased shares of Ignite Restaurant Group Inc 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