An investigation on behalf of investors of NYSE:BIG shares over possible securities laws violations by Big Lots, Inc. was announced and NYSE:BIG stockholders should contact the Shareholders Foundation.

San Diego, CA, USA (May 14, 2012) -- The Shareholders Foundation announces that an investigation on behalf of investors in NYSE:BIG shares over potential securities laws violations by certain officers and directors at Big Lots, Inc. in connection with certain financial statements was initiated.

Investors who purchased shares of Big Lots, Inc. (NYSE:BIG) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Big Lots, Inc. (NYSE:BIG) concerning whether the company, certain of its officers and directors, or others have possibly violated federal securities laws. Specifically, the investigation concerns whether certain statements made between February 2, 2012 and April 23, 201about Big Lots’ business, its prospects and its operations were potentially materially false and misleading at the time they were made. The investigation seeks to determine, among other things, whether Big Lots, Inc. knew but failed to adequately disclose that its electronic products business was being negatively affected by shoppers transitioning to online shopping, and whether the Company concealed material information regarding deterioration in its consumables line.

Big Lots, Inc. reported that its Total Revenue rose from $4.64billion for a 52weeks period ending on January 31, 2009 to $5.2billion for a 52weeks period ending on Jan. 28, 2012 and its Net Income rose from $154.80million to $207.24million for the respective time periods.

Shares of Big Lots, Inc. (NYSE:BIG) rose from as low as $13.45 per share in Jan. 2009 to as hiogh as $46.81 on March 27, 2012.

Then on April 23, 2012, after the market closed, Big Lots, Inc. provided an update on its First Quarter Sales Guidance. Big Lots, Inc, among other things, said that it expects U.S. comparable store sales to be slightly negative compared to its prior guidance.

Shares of Big Lots, Inc. (NYSE:BIG) fell from $45.65 per share on April 23, 2012 to a close of $34.71 per share on April 24, 2012.

According to the investigation Big Lots, Inc. has spent $46 million to repurchase 1.3 million shares in the fourth quarter, while certain insiders have sold almost $1,000,000 shares and options over the past year.

Those who purchased shares of Big Lots, Inc. (NYSE:BIG), have certain options and should contact the Shareholders Foundation.

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

Media Contact:
Trevor Allen
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
Web: www.shareholdersfoundation.com

This release was published on openPR.