An investigation for investors in J.C. Penney Company, Inc. (NYSE:JCP) shares over potential securities laws violations by J.C. Penney Company was announced and NYSE:JCP stockholders should contact the Shareholders Foundation at email@example.com
San Diego, CA -- (SBWIRE) -- 09/30/2013 -- An investigation on behalf of investors of J.C. Penney Company, Inc. (NYSE:JCP) shares over potential securities laws violations by J.C. Penney Company and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of J.C. Penney Company, Inc. (NYSE:JCP)have certain options and should 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 J.C. Penney Company, Inc. (NYSE:JCP) concerning whether a series of statements J.C. Penney Company, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
J.C. Penney Company, Inc. reported that its Total Revenue declined from over $17.26 billion for the 52 weeks period that ended on Jan. 28, 2012 to over $12.98 billion for the 53 weeks period that ended on Feb. 2, 2013 and that its respective Net loss increased from $152.00 million to $985.00 million.
On August 20, 2013, J.C. Penney Company, Inc. reported its 2013 fiscal second quarter results. During a conference call to the question “looking forward do you think you would need any additional outside liquidity?” the J.C. Penney's CFO responded with “We’re certainly, as we look through the end of the year, the $1.5 billion of liquidity that we have projected we are not assuming that we need any additional financing.”
Then on Sept. 26, 2013, J.C. Penney Company, Inc. announced a proposed Public Offering of Common Stock. J.C. Penney Company, Inc. said that it has commenced an underwritten public offering of 84.0 million shares of its common stock and that it intends to use the net proceeds from the offering for general corporate purposes. Based upon a closing price for NYSE:JCP shares of $10.42 on September 26, 84 million NYSE:JCP shares would sell for $875.28 million.
Shares of J.C. Penney Company, Inc. (NYSE:JCP) declined from $42.68 per share in February 2012 to as low as $8.89 per share on Sept. 27, 2013.
Those who purchased shares of J.C. Penney Company, Inc. (NYSE:JCP), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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