SOURCE: Dyer & Berens LLP

Dyer & Berens LLP

September 15, 2011 15:34 ET

Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased the Securities of The Great Atlantic & Pacific Tea Company Between 7/23/09 and 12/10/10; Announces Investor Deadline (GAPTQ.PK & GAJTQ.PK)

DENVER, CO--(Marketwire - Sep 15, 2011) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the District of New Jersey on behalf of all persons who purchased or otherwise acquired the securities of The Great Atlantic & Pacific Tea Company, Inc. ("A&P" or the "Company") (PINKSHEETS: GAPTQ) (PINKSHEETS: GAJTQ) between July 23, 2009 and December 10, 2010, inclusive (the "Class Period").

What actions may I take at this time? If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than November 8, 2011. If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362 x302 or via email at jeff@dyerberens.com. Any member of the putative class may request a lead plaintiff appointment through counsel of its choice or may choose to do nothing and remain an absent class member.

What are the allegations in the complaint? The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding the Company's financial condition, business and prospects. On July 23, 2010, A&P issued a press release announcing its fiscal 2010 first quarter results and that the Company had launched a "turnaround," designed to strengthen A&P's operating and financial foundation. On August 13, 2010, A&P announced the closing of certain stores as part of the Company's operational and revenue-driven turnaround initiative, the purported turnaround strategy, designed to generate sustained profitability and cash flow, drive sales growth, restore competitive margins to the business and strengthen the foundation of the Company for the long term. Then, on December 10, 2010, A&P shocked investors after revealing, for the first time, that the Company was performing so far below expectations and the purported turnaround strategy was failing so miserably that the Company would likely be forced to file for bankruptcy protection. In response to this announcement, the price of A&P securities declined precipitously. Based upon the foregoing, the complaint charges certain of the Company's current and former officers with violations of the Securities Exchange Act of 1934.

About Dyer & Berens LLP. The plaintiff is represented by several law firms, including Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. 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
    Email: Email Contact
    Website: www.DyerBerens.com