CINCINNATI, April 22, 2010 (GLOBE NEWSWIRE) -- Attorney Advertising -- The class action law firm of Statman, Harris & Eyrich, LLC announced today that it is investigating Vitacost.com, Inc. ("Vitacost.com" or the "Company") (Nasdaq:VITC) for potential violations of state and federal securities laws. The affected stock was purchased in connection with the Company's September 2009 initial public offering.
The firm's investigation was triggered on April 20, 2010, when Vitacost.com issued a press release updating its guidance for revenue and earnings per share for the first quarter and full year 2010. Vitacost.com revealed that severe manufacturing problems and other related issues would make it impossible for the Company to meet its earning, revenue or growth estimates. As a direct result, Vitacost.com's common stock fell to $8.66 per share in early trading, a decline of almost 30% and well below the September 2009 $12.00 offering price.
Shareholders who purchased Vitacost.com stock in connection with the Company's September 2009 initial public offering may have a claim against the Company and are encouraged to contact attorneys Melinda Nenning or Elizabeth Hutton at (513) 658-8867 or (513) 621-2666 or at mnenning@statmanharris.com or ehutton@statmanharris.com for further information without any obligation or cost to you.
Statman, Harris & Eyrich, LLC has offices in Chicago, Illinois; Cincinnati, Ohio; and Dayton, Ohio. www.statmanharris.com