An investigation for current long-term stockholders in NASDAQ:GMAN shares over potential wrongdoing at Gordmans Stores, Inc. was announced and current long term NASDAQ:GMAN stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

San Diego, CA -- (SBWire) -- 04/02/2013 --A recent substantial stock price drop prompted an investigation on behalf of current long-term stockholders in NASDAQ:GMAN shares concerning whether cert certain of directors and officers of Gordmans Stores, Inc. breached their fiduciary duties.

Investors who are current long-term stockholders in shares of Gordmans Stores, Inc. (NASDAQ:GMAN), 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 concerns whether certain Gordmans Stores’ officers and directors breached their fiduciary duties and caused damage to the company and its shareholders by potentially failing to implement adequate internal controls.

On March 19, 2012, Gordmans Stores, Inc. announced its fourth quarter and fiscal Year 2011 Results. Among other things, Gordmans Stores, Inc. also issued its outlook for the first quarter of fiscal year 2012 ending April 28, 2012. On May 11, 2012, Gordmans Stores, Inc. announced its first Quarter 2012 Results. Among other things, Gordmans Stores, Inc. also issued its outlook for the second quarter of fiscal year 2012 ending July 28, 2012.

On May 21, 2012 Gordmans Stores, Inc. announced the commencement of a public offering of approximately 3 million shares of common stock by certain selling stockholders and 40,000 shares of common stock by the Company. In addition, Gordmans Stores, Inc.said that Sun Gordmans, LP, one of the selling stockholders, will grant the underwriters a 30-day option to purchase up to approximately 456,500 shares of common stock to cover over-allotments, if any. Piper Jaffray & Co. andWells Fargo Securities are the joint book-running managers for the offering.

On August, August 30, 2012 Gordmans Stores, Inc. announced its Second Quarter 2012 Results. Among other things, Gordmans Stores, Inc. issued its outlooks for the for the third and fourth quarter of fiscal year 2012.

Then on October 1, 2012, Gordmans Stores, Inc. updated its outlook for the third quarter ending October 27, 2012 and fourth quarter ending February 2, 2013. On Nov. 28, 2012, Gordmans Stores, Inc. announced its third quarter 2012 results and issued its updated outlook for the for the fourth quarter and full year of fiscal year 2012.

On Jan. 14, 2013, Gordmans Stores, Inc. updated its outlook for the fourth quarter ending February 2, 2013.

Shares of Gordmans Stores, Inc.(NASDAQ:GMAN) dropped to as low as $11.59 per share on Jan. 25, 2013.

Then on March 25, 2013, Gordmans Stores, Inc. announced results for its fourth quarter (fourteen weeks) and fiscal year (fifty-three weeks) ended February 2, 2013.

Shares of Gordmans Stores, Inc. dropped on March 26, 2013, to as low as $11.699 per share and continued to decline to $11.50 per share on April 1, 2013, which is almost half its 52 week High of $22.86 per share.

Those who purchased shares of Gordmans Stores, Inc. (NASDAQ:GMAN), have certain options and should contact the Shareholders Foundation.

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