SAN DIEGO, Dec. 11, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a deadline to get actively involved is coming up on January 14, 2014 in the lawsuit filed on behalf of certain investors in shares Tile Shop Hldgs, Inc. (TTS) over alleged Securities Laws Violations by Tile Shop Hldgs, Inc. in connection with certain allegedly false and misleading statements made between August 22, 2012 and November 13, 2013.
If you purchased a significant amount of shares of Tile Shop Hldgs, Inc. (TTS) between August 22, 2012 and November 13, 2013, and / or if you purchased TTS shares in 2012 or earlier and currently hold any of those shares, you have certain options and you should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants failed to disclose that one of its largest suppliers, Beijing Pingxiu, is an undisclosed related company secretly controlled by Fumitake Nishi, the brother-in-law of the Company's CEO and a Tile Shop Hldgs employee.
On November 14, 2013, a report was published that alleged that Tile Shop Hldgs, Inc. overstated its earnings in 2013 by more than 200 percent, that Beijing Pingxiu, Tile Shop Hldgs' largest supplier, was related to Tile Shop Hldgs, Inc., in that Beijing Pingxiu is secretly controlled by the brother-in-law of Tile Shop Hldgs' CEO, that Tile Shop Hldgs Inc. used Beijing Pingxiu to exaggerate its inventory and profits, purchasing goods at or near cost.
Shares of Tile Shop Hldgs, Inc. declined from declined from almost $30 in September to as low as almost $10 during November 2013.
The plaintiff seeks to recover damages on behalf of all purchasers of Tile Shop Hldgs, Inc. common stock between August 22, 2012 and November 13, 2013
Those who purchased shares of Tile Shop Hldgs, Inc. have certain options and should contact the Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.