San Diego, CA -- (SBWIRE) -- 07/16/2012 -- An investigation on behalf of investors in SUPERVALU INC. (NYSE:SVU) shares over potential securities laws violations by certain officers and directors at SUPERVALU INC. in connection with certain financial statements was announced.
Investors who purchased shares of SUPERVALU INC. (NYSE:SVU), 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 SUPERVALU INC. (NYSE:SVU) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements about SUPERVALU‘ s business, its prospects and its operations were potentially materially false and misleading at the time they were made.
SUPERVALU INC. (NYSE:SVU) reported that its Total Revenue fell from $44.56billion for the 53weeks period ended on Feb. 28, 2009 to $36.1billion for the 52weeks period ended on Feb 25, 2012.
Shares of SUPERVALU INC. (NYSE:SVU) declined from over $17 in March 2010 to almost $5 poer share in April 2012.
Then on July 11, 2012, after the market closed, SUPERVALU INC. (NYSE:SVU) announced its Fiscal First Quarter 2013 results. Among other things, SuperValu said that its suspended its dividend and that it suspended its identical store sales and earnings per share guidance and withdrew any previous guidance given for fiscal 2013. Furthermore, SUPERVALY said it is reviewing its strategic alternatives.
Following the announcement, shares of SUPERVALU INC. (NYSE:SVU) dropped over 50% from $5.29 per share on July 11, 2012 to as low as $2.32 per share on July 13, 2012.
Those who purchased shares of SUPERVALU INC. (NYSE:SVU) , have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego