An investigation for investors in Big Lots, Inc., who purchased NYSE:BIG) shares between Feb. and Aug. 2012, over potential securities laws violations was announced and NYSE:BIG stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 05/13/2013 -- An investigation on behalf of investors, who purchased shares of Big Lots, Inc. (NYSE:BIG) between February and August 2012, was announced concerning potential securities laws violations in connection certain financial statements.
Investors who purchased shares of Big Lots, Inc. (NYSE:BIG) between February 2012 and August 2012 have certain options and are encouraged to contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Big Lots, Inc. (NYSE:BIG) concerning whether a series of statements regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
A lawsuit was filed in 2012 in the U.S. District Court for the Southern District of Ohio against Big Lots, Inc. The plaintiff alleges that Big Lots, Inc. and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between Feb. 2, 2012 and April 23, 2012, allegedly materially false and misleading statements regarding the Company's business and financial results.
The plaintiff alleges that as a result of defendants' allegedly false statements, Big Lots stock (NYSE:BIG) traded at artificially inflated prices between Feb. 2, 2012 and April 23, 2012, reaching a high of $46.81 per share on March 27, 2012.
Then on April 23, 2012, after the market closed, Big Lots, Inc. provided an update on its First Quarter Sales Guidance. Big Lots, Inc, among other things, said that it expects U.S. comparable store sales to be slightly negative compared to its prior guidance.
Shares of Big Lots, Inc. fell from $45.65 per share on April 23, 2012 to a close of $34.71 per share on April 24, 2012 and declined to as low as $26.86 per share on November 14, 2012.
On May 10, 2013, NYSE:BIG shares closed at $37.69 per share.
Those who purchased shares of Big Lots, Inc. (NYSE:BIG), have certain options and should contact the Shareholders Foundation.
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