PRICESMART SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against PriceSmart, Inc. - PSMT
NEW ORLEANS, May 31, 2019 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until July 22, 2019 to file lead plaintiff applications in a securities class action lawsuit against PriceSmart, Inc. (NasdaqGS: PSMT), if they purchased the Company's securities between October 26, 2017 and October 25, 2018, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of California.
What You May Do
If you purchased securities of PriceSmart 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, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-psmt/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by July 22, 2019.
About the Lawsuit
PriceSmart and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On October 25, 2018, the Company disclosed disappointing operating results for the fourth quarter and year ended August 31, 2018, as well as the discovery of a "balance sheet misclassification" requiring the restatement of certain financial statements and the resignation of its Chief Executive Officer.
On this news, PriceSmart's share price fell $12.41, or more than 15%, to close at $69.16 on October 26, 2018.
The case is Harari v. PriceSmart, Inc., et al, 19-cv-00958.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC
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