SOURCE: Shareholders Foundation

Shareholders Foundation

July 23, 2012 09:33 ET

Big Lots, Inc. (BIG) Investor Lawsuit Against Big Lots, Inc. Over Alleged Securities Laws Violations Announced by Shareholders Foundation

SAN DIEGO, CA--(Marketwire - Jul 23, 2012) - The Shareholders Foundation, Inc. announces that a lawsuit was filed by an investor in Big Lots, Inc. (BIG) shares over alleged securities laws violations by Big Lots, Inc. and certain of its officers and directors over certain financial statements

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

According to the complaint the plaintiff alleges that Big Lots, Inc. and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between Feb. 2, 2012 and April 23, 2012, materially false and misleading statements regarding the Company's business and financial results.

The plaintiff alleges that as a result of defendants' allegedly false statements, Big Lots stock (BIG) traded at artificially inflated prices between Feb. 2, 2012 and April 23, 2012, reaching a high of $46.81 per share on March 27, 2012.

Then on April 23, 2012, 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. (BIG) fell from $45.65 per share on April 23, 2012 to a close of $34.71 per share on April 24, 2012.

On July 20, 2012, BIG shares closed at $39.14 per share.

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

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, 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. 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.

Contact Information

  • CONTACT:
    Shareholders Foundation, Inc.
    Trevor Allen
    +1 (858) 779-1554
    mail@shareholdersfoundation.com
    3111 Camino Del Rio North
    Suite 423
    San Diego, CA 92108