San Diego, CA -- (SBWIRE) -- 11/26/2012 -- An investigation on behalf of current long term stockholders in NYSE:BTH shares concerning whether certain directors and officers of Blyth, Inc. breaches of fiduciary duties in connection with certain statements over ViSalus, Inc. a multilevel weight loss marketing company Blyth, Inc. owns a controlling interest in.
Investors who are current long term stockholders in shares of Blyth, Inc. (NYSE:BTH), 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 for current long term investors in Blyth, Inc. (NYSE:BTH) stocks follows a lawsuit filed earlier by shareholders against Blyth, Inc. over alleged securities laws violations. According to that complaint filed in the U.S. District Court for the District of Connecticut the plaintiff alleges that that Blyth, Inc. violated that Securities Exchange Act of 1934 by issuing between March 14, 2012 and November 6, 2012 allegedly materially false and misleading statements regarding the Company's financial performance and future prospects.
Specifically, the plaintiff alleges that the nature and ongoing viability of the strong results being reported for ViSalus, Inc. were allegedly being overstated, and that this was masking declining performance in Blyth’s other operating units and product lines.
On August 3, 2012, Blyth, Inc. increased its 2012 Earnings guidance and on August 16, 2012, Blyth, Inc. announced that ViSalus has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a potential initial public offering (“IPO”) of its Class A common stock. Blyth, Inc. said that following the IPO, Blyth will continue to own over 50% of ViSalus' common stock.
Shares of Blyth, Inc. (NYSE:BTH) rose to as high as $45.57 per share on August 20, 2012.
Then on September 26, 2012, ViSalus withdrew its initial public offering due to uncertain market conditions.
Shares of Blyth, Inc. (NYSE:BTH) fell from over $45 in August to as low as $15.07 per share on November 15, 2012.
On Nov. 23, 2012, NSYE:BTH shares closed at $15.35 per share.
Those who are current long term investors in Blyth, Inc. (NYSE:BTH) shares, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego