San Diego, CA -- (SBWIRE) -- 05/27/2015 -- An investigation on behalf of current long-term investors in shares of Pier 1 Imports Inc (NYSE:PIR) shares was announced over potential breaches of fiduciary duties by certain Pier 1 Imports Inc officers and directors.

Investors who purchased shares of Pier 1 Imports Inc (NYSE:PIR) 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 Pier 1 Imports officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.

On February 10, 2015, Pier 1 Imports Inc announced that it revised its financial guidance for the fiscal year ending February 28, 2015. Pier 1 Imports Inc said that its outlook reflects softer than expected sales in January and February, as well as higher than forecast expenses, primarily related to incremental supply chain costs. In a separate announcement on February 10, 2015, Pier 1 Imports Inc also announced that its Senior Executive Vice President and Chief Financial Officer Charles H. Turner has retired and Laura A. Coffey, a 17-year veteran of Pier 1 Imports, has been named Executive Vice President – Interim Chief Financial Officer, effective immediately. Shares of Pier 1 Imports Inc (NYSE:PIR) declined from $17.10 per share on February 10, 2015 to as low as $11.38 per share on February 11, 2014.

On May 22, 2015, NYSE:PIR shares closed at $13.38 per share.

Those who purchased shares of Pier 1 Imports Inc (NYSE:PIR) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com