SOURCE: Kahn Swick & Foti, LLC
NEW ORLEANS, LA--(Marketwire - Feb 21, 2013) - Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 22, 2013 to file lead plaintiff applications in a securities class action lawsuit against Family Dollar Stores, Inc. (NYSE: FDO), if they purchased the Company's common stock during the period between October 3, 2012 and January 2, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Western District of North Carolina.
What You May Do
If you purchased shares of Family Dollar Stores and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (email@example.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by April 22, 2013.
About the Lawsuit
Family Dollar Stores and certain of its senior executives are charged with issuing a series of materially false and misleading statements, during the Class Period, in violation of federal securities laws.
On January 3, 2013, Family Dollar published a release disclosing 1Q:13 sales (the period ended 11/24/12) well below guidance. According to the Company, sales had slowed and inventory had grown well above plan. After reducing guidance, shares of Family Dollar fell almost 13%, or $8.30 per share.
During the Class Period, Family Dollar failed to disclose that: (i) it was suffering from deficient internal controls and procedures; and, that (ii) it had filed to disclose its true financial and operational condition.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.