San Diego, CA -- (SBWIRE) -- 02/17/2015 -- An investigation on behalf of investors of Pier 1 Imports Inc (NYSE:PIR) shares over potential securities laws violations by Pier 1 Imports Inc and certain of its directors and officers in connection certain financial statements was announced.

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 focuses on possible claims on behalf of purchasers of the securities of Pier 1 Imports Inc (NYSE:PIR) concerning whether a series of statements by Pier 1 Imports regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Pier 1 Imports Inc reported that its Total Revenue rose from over $1.53 billion for the 12 months period that ended on February 25, 2012 to over $1.77 billion for the 12 months period that ended on March 1, 2014 and that its respective Net Income declined from $168.94 million to $107.53 million.

Shares of Pier 1 Imports Inc (NYSE:PIR) declined from $25.20 per share in May 2013 to $11.68 per share in October 1, 2014.

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:PIR0 declined from $17.10 per share on February 10, 2015 to as low as $11.38 per share on February 11, 2014.

On February 13, 2015, NYSE:PIR shares closed at $12.52 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