NEW ORLEANS, Feb. 14, 2014 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 15, 2014 to file lead plaintiff applications in a securities class action lawsuit against Fairway Group Holdings Corp. (Nasdaq:FWM), if they purchased the Company's securities during the period between April 16, 2013 and February 6, 2014, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Fairway and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com) or KSF Partner Melinda Nicholson (melinda.nicholson@ksfcounsel.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 15, 2014.
About the Lawsuit
Fairway and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that: (i) Fairway's same store sales were declining; (ii) Fairway's direct store expenses were increasing; and (iii) Fairway's financial forecasts were wholly unrealistic.
On February 6, 2014, Fairway announced severely disappointing results for the fourth quarter of 2014, including a net loss of 74 cents per share and a decline in same-store sales of 1.7%. Following this news, Fairway was downgraded by multiple analysts, and the price of its shares plummeted by over 35%—from $11.43 on February 6 to $7.36 on February 14, 2014.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.