ENGLEWOOD CLIFFS, N.J., May 9, 2013 (GLOBE NEWSWIRE) -- Gardy & Notis, LLP, a national law firm advocating for shareholder rights, announces that a lawsuit has been filed in the United States District Court for the District of New Jersey alleging violations of federal securities laws by officers and directors of Vitamin Shoppe, Inc. ("Vitamin Shoppe" or the "Company") (NYSE:VSI).
Any Vitamin Shoppe investor wishing to serve as lead plaintiff in the above lawsuit must apply to the Court no later than July 8, 2013. If you are a Vitamin Shoppe shareholder and wish to discuss this lawsuit or have any questions concerning your rights and interests, you may contact our Firm by calling 201-567-7377, or contacting the attorneys named below.
The complaint alleges that between May 8, 2012 and February 25, 2013 (the "Class Period"), defendants issued materially false and misleading statements and omitted materially relevant facts regarding the Company's operations, business trends and same-store sales trends. Specifically, defendants failed to disclose that: (1) Vitamin Shoppe's business was being negatively impacted by competition from on-line retailers which were significantly reducing prices on popular supplements; (2) GNC's new discount program was negatively impacting the Company's sales growth; and (3) the Company was experiencing declining same-store sales trends. As a result, Vitamin Shoppe stock traded at artificially inflated prices, enabling Company insiders to sell more than $30 million of their Vitamin Shoppe common stock at inflated prices during the Class Period.
If you invested in Vitamin Shoppe's stock or options and would like to discuss your legal rights, call Mark Gardy or Charles Germershausen at 201-567-7377 or e-mail mgardy@gardylaw.com or cgermershausen@gardylaw.com. Gardy & Notis, LLP also encourages anyone with information regarding Vitamin Shoppe's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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