SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

July 14, 2010 12:49 ET

Dyer & Berens LLP Encourages Vitacost.com, Inc. Investors to Consider Their Legal Options in Pending Class Action Prior to the July 23, 2010 Lead Plaintiff Deadline -- VITC

DENVER, CO--(Marketwire - July 14, 2010) - Dyer & Berens LLP (www.DyerBerens.com) today encouraged investors who purchased or acquired Vitacost.com, Inc. (NASDAQ: VITC) securities between September 24, 2009 and April 20, 2010, inclusive to consider whether to seek a "lead plaintiff" appointment in the securities class action pending in the United States District Court for the Southern District of Florida. If you wish to serve as a lead plaintiff, you must seek such an appointment no later than July 23, 2010

If you wish to discuss the class action lawsuit or have any questions concerning this notice or your rights or interests, please contact Jeffrey A. Berens, Esq., at (888) 300-3362 x302, (303) 861-1764, or via email at jeff@dyerberens.com. Any member of the putative class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Although investors' ability to share in any recovery is not affected by their decision to seek appointment, lead plaintiffs make important decisions which could affect the overall recovery for class members.

The class action complaint charges that Vitacost and certain of its officers and executives violated federal securities laws. Specifically, defendants allegedly failed to disclose: (1) Vitacost was starting a product-mix shift away from their traditional high-margin proprietary products; (2) Vitacost inflated demand for its proprietary products; (3) the company was pushing out excess product to customers to mask declining demand; (4) Vitacost was experiencing logistical issues at its plants; (5) Vitacost lacked significant oversight processes and procedures and utilized ineffective operations software, despite knowing that those issues existed; and (6) that, as a result, Vitacost's financial results and projections were materially inflated at all relevant times. On April 20, 2010, Vitacost slashed its first-quarter and full-year profit and revenue estimates, citing disappointing sales along with manufacturing problems. On this news, shares of Vitacost fell 24%.

Dyer & Berens LLP specializes in complex class action litigation on behalf of injured investors throughout the nation. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. 

Contact Information

  • Contact:

    Jeffrey A. Berens
    Dyer & Berens LLP
    303 East 17th Avenue, Suite 300
    Denver, CO 80203
    Tel: (888) 300-3362 x302 or (303) 861-1764
    Email: Email Contact