An investigation on behalf of current long term investors in Freshpet Inc (NASDAQ:FRPT) shares over possible breaches of fiduciary duty by certain officers and directors was announced and NASDAQ:FRPT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 11/16/2016 -- An investigation on behalf of current long-term investors in shares of Freshpet Inc (NASDAQ:FRPT) concerning potential breaches of fiduciary duties by certain directors of Freshpet Inc was announced.
Investors who are current long term investors in Freshpet Inc (NASDAQ:FRPT) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
The investigation by a law firm for current long term investors in NASDAQ:FRPT stocks follows a lawsuit filed against Freshpet Inc over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ:FRPT stocks, concerns whether certain Freshpet In directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that one of the Company's material customers, Target Corp., was undergoing a corporate reorganization and, accordingly, was delaying the installation of a significant number of Freshpet Fridges, that two of the Company's supermarket customers were experiencing financial hardships such that it was likely that any Freshpet Fridges located in their respective stores would soon have to be removed, and that due to the foregoing, the Company was not growing its overall number of installed Freshpet Fridges at the levels communicated to investors and was tracking well below internal forecasts for such placements.
Freshpet Inc went public on November 7, 2014, where it sold 10.4 million shares of stock in its initial public stock offering ("IPO").
On March 31, 2015 Freshpet Inc announced its fourth quarter and fiscal 2014 results and issued its guidance for the full year 2015. Freshpet Inc reported that its annual Total Revenue rose from $63.15 million in 2013 to $86.76 million in 2014 and that its Net Loss increased from $21.69 million in 2013 to $37.34 million in 2014. Shares of Freshpet Inc (NASDAQ:FRPT) grew to as high as $25.46 per share in April 2015.
On November 11, 2015, Freshpet Inc announced its third quarter 2015 financial results and updates its guidance for 2015. Shares of Freshpet Inc (NASDAQ:FRPT) declined to as low as $5.89 per share on November 12, 2015.
On November 15, 2016, NASDAQ:FRPT shares closed at $8.70 per share.
Those who purchased shares of Freshpet Inc have certain options and should contact the Shareholders Foundation.
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