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Investigation announced for Investors in shares of PriceSmart, Inc. (NASDAQ: PSMT)

09-24-2019 07:58 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of investors in PriceSmart, Inc. (NASDAQ: PSMT) shares over potential wrongdoing at PriceSmart, Inc.

An investigation on behalf of investors in PriceSmart, Inc. (NASDAQ: PSMT) shares over potential wrongdoing at PriceSmart, Inc.

Certain directors of PriceSmart, Inc. (NASDAQ: PSMT) are under investigation over potential breaches of fiduciary duties.

Investors who purchased shares of PriceSmart, Inc. (NASDAQ: PSMT) and currently hold any of those NASDAQ: PSMT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain PriceSmart, Inc. (NASDAQ: PSMT officers and directors breached their fiduciary duties and caused damage to the company and its shareholders

On May 22, 2019, a lawsuit was filed against PriceSmart, Inc. (NASDAQ: PSMT) over alleged violations of Federal Securities Laws. The plaintiff claimed that between October 26, 2017 and October 25, 2018, the Defendants failed to disclose to investors that the Company’s omni-channel business strategy had failed to reach key operating goals, that the Company’s South America distribution strategy had failed to realize key cost saving goals, that the Company had invested Trinidad and Tobago dollars into certificates of deposits with financial institutions, that these investments had been improperly classified as cash and cash equivalents; that the relevant corrections would materially impact financial statements; that there was a material weakness in the Company’s internal controls over financial reporting; that increasing competition negatively impacted the Company’s revenue and profitability, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

Those who purchased shares of PriceSmart, Inc. (NASDAQ: PSMT) have certain options and should contact the Shareholders Foundation.

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

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. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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