NEW YORK, Feb. 24, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. announces that a class action lawsuit has been filed on behalf of purchasers of the securities of Fairway Group Holdings Corp. (Nasdaq:FWM) between April 16, 2013 and February 6, 2014, inclusive (the "Class Period") seeking remedies under the federal securities laws.
To join the Fairway class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim or Kevin Chan toll-free at 866-767-3653; you may also email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The lawsuit alleges that during the Class Period, the Company and certain of its executive officers misrepresented or failed to disclose that: (i) Fairway's same store sales were declining; (ii) Fairway's direct store expenses were increasing; and (iii) Fairway's financial forecasts were unrealistic and unobtainable. On February 6, 2014, Fairway announced disappointing results for the third quarter of fiscal 2014 that were below analysts' estimates and management forecast, including decreased same store sales and higher expenses. On this news, shares of Fairway fell $3.31 per share or by approximately 29% to close at $8.12 on February 7, 2014 damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than April 15, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
CONTACT: Laurence Rosen, Esq.
Phillip Kim, Esq.
Kevin Chan, Esq.
The Rosen Law Firm P.A.
275 Madison Avenue 34th Floor
New York, New York 10016
Tel: (212) 686-1060
Toll Free: 1-866-767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
kchan@rosenlegal.com
www.rosenlegal.com
