NEW YORK, Aug. 31, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a securities class action has been filed in the United States District Court for the Northern District of Texas on behalf of those who purchased shares of Pier 1 Imports, Inc. ("Pier 1" or the "Company") (NYSE:PIR), during the period between December 19, 2013 and February 10, 2015 inclusive. (the "Class Period").
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose the truth regarding the Company's business prospects and financial condition.
On February 10, 2015, the Company "announced revised financial guidance for the fiscal year ending February 28, 2015. The Company's outlook reflects softer than expected sales in January and February, as well as higher than forecast expenses, primarily related to incremental supply chain costs. In a separate press release today, the Company also announced that Senior Executive Vice President and Chief Financial Officer Charles H. Turner has retired and Laura A. Coffey, a 17-year veteran of Pier 1 Imports, has been named Executive Vice President – Interim Chief Financial Officer, effective immediately."
On this news, shares of Pier 1 fell $5.09 or 28.94%, during intraday trading to trade at $11.89 on February 11, 2015.
No Class has yet been certified in the above action. If you wish to review a copy of the Complaint, to discuss this action, or have any questions, please contact Peretz Bronstein, Esq. or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number. If you suffered a loss in Pier 1 you have until October 26, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
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