SOURCE: Kahn Swick & Foti, LLC
NEW ORLEANS, LA--(Marketwired - Nov 18, 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 January 14, 2014 to file lead plaintiff applications in a securities class action lawsuit against Tile Shop Holdings, Inc. (NASDAQ: TTS), if they purchased the Company's securities during the period between August 22, 2012 and November 13, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased shares of Tile Shop 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, call toll-free at 1-877-515-1850, or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org) or KSF Partner Melinda Nicholson (email@example.com). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by January 14, 2014.
About the Lawsuit
Tile Shop and certain of its executives are charged with issuing a series of materially false and misleading statements during the Class Period, violating federal securities laws.
Tile Shop is alleged to have: (i) greatly exaggerated its true financial performance; (ii) failed to disclose that one of its largest suppliers, Beijing Pingxiu ("BP"), is a related company secretly controlled by Fumitake Nishi, the brother-in-law of the Company's CEO and a Tile Shop employee; (iii) used BP to overstate inventories, understate cost of sales and overstate gross profits; (iv) purchases goods from BP at or near cost to allow Tile Shop to achieve an artificial cost advantage; and (v) overstated earnings.
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.