DEADLINE ALERT – Bronstein, Gewirtz & Grossman, LLC Reminds Investors of Class Action Against Vitamin Shoppe, Inc. (VSI) & Lead Plaintiff Deadline: October 27, 2017

NEW YORK, NY / ACCESSWIRE / October 20, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed in the United States District Court of the District Court of New Jersey against Vitamin Shoppe, Inc. (”Vitamin Shoppe” or the ”Company”) (NYSE: VSI) and certain of its officers, on behalf of a class consisting of investors who purchased Vitamin Shoppe securities between March 1, 2017 and August 6, 2017, both dates inclusive (the ”Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/vsi.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that, throughout the Class Period, Defendants failed to disclose material adverse facts about its true financial condition, business, and prospects and specifically that (1) Vitamin Shoppe’s retail segment was continuing to dramatically decline, as its ongoing ”reinvention plan” was not meeting with success; (2) ongoing changes to its operating plan brought about through the ”reinvention plan” had already rendered the more than $168 million in goodwill being carried on Vitamin Shoppe’s books for the retail segment impaired and Vitamin Shoppe was improperly delaying recognizing that impairment charge; and (3) consequently, defendants lacked a reasonable basis for their positive statements about Vitamin Shoppe’s financial prospects, including the viability of its return to profitability during fiscal 2017, and the success of its reinvention plan.

On May 10, 2017, Vitamin Shoppe revealed a 45% reduction in its FY17 EPS guidance but claimed the ”reinvention plan” was still succeeding. Following this news, Vitamin Shoppe stock dropped by one-third to close at $12.70 per share. Then, on August 9, 2017, Vitamin Shoppe said it was taking a $168.1 million goodwill impairment charge and would report a GAAP loss of $6.73 per share in the second quarter of 2017. The company cited ”the potential increase in variability of the Company’s results due to the number of initiatives being launched in the back half of the year,” Vitamin Shoppe dropped its fiscal 2017 earnings per share guidance altogether. Following that news, Vitamin Shoppe stock again dropped $3.50 per share to close at $6.10 per share on that same day.

Earlier, on March 1, 2017, Vitamin Shoppe advised investors that it was on track to deliver ”fully diluted earnings per share in the range of $1.95 – $2.20” for FY17. Then, on March 1, 2017, Vitamin Shoppe stock closed at $21.35. Since then, Vitamin Shoppe has dropped dramatically and closed at $6.05 per share on August 16, 2017.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm’s site: www.bgandg.com/vsi, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Vitamin Shoppe, you have until October 27, 2017 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 Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC

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