SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Pier 1 Imports, Inc. - PIR
NEW YORK, Feb. 10, 2015 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Pier 1 Imports, Inc. ("Pier 1" or the "Company") (NYSE: PIR). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 237.
The investigation concerns whether Pier 1 and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
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 $5.28 per share to $11.69, or more than 31.11%, in after-hours trading on February 10, 2015.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
SOURCE Pomerantz LLP
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