LOS ANGELES, Dec. 20, 2013 (GLOBE NEWSWIRE) -- Glancy Binkow & Goldberg LLP announces that all purchasers of the securities of Tile Shop Holdings, Inc. ("Tile Shop" or the "Company") (Nasdaq:TTS) between August 22, 2012 and November 13, 2013, inclusive (the "Class Period'), have until January 14, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit filed in the United States District Court for the Southern District of New York.
A COPY OF THE COMPLAINT IS AVAILABLE FROM THE COURT OR FROM GLANCY BINKOW & GOLDBERG LLP. PLEASE CONTACT US AT (212) 682-5340, TOLL-FREE AT (888) 773-9224, OR AT SHAREHOLDERS@GLANCYLAW.COM TO DISCUSS THIS MATTER. IF YOU INQUIRE BY EMAIL PLEASE INCLUDE YOUR MAILING ADDRESS, TELEPHONE NUMBER AND NUMBER OF SHARES PURCHASED.
Tile Shop is a specialty retailer of manufactured and natural stone tiles, setting and maintenance materials, and related accessories in the United States. The Complaint alleges the defendants misrepresented and failed to disclose material adverse facts about the Company's business, operations and financial performance.
On November 14, 2013, Gotham City Research LLC issued a report alleging that Tile Shop inflated its 2013 earnings by 200% as a result of an undisclosed third-party relationship with a China-based supplier, Beijing Pingxiu. The Gotham Research report alleges that Beijing Pingxiu accounts for 20-30% of Tile Shop's cost of goods sold, that it is controlled by a relative of a Tile Shop executive, and that Tile Shop "has used its China-based undisclosed related party and improper accounting to overstate profits."
To be a member of the Class you need not take any action at this time or may retain counsel of your choice. If you wish to learn more about this action, or if you have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Michael Goldberg, Esquire, of Glancy Binkow & Goldberg LLP, 1925 Century Park East, Suite 2100, Los Angeles, California 90067, Toll-Free at (888) 773-9224, or contact Gregory Linkh, Esquire, of Glancy Binkow & Goldberg LLP at 122 E. 42nd Street, Suite 2920, New York, New York 10168, at (212) 682-5340, by e-mail to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com.
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