NEW YORK, Oct. 22, 2015 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces that a class action lawsuit has been filed on behalf of all purchasers of Pier 1 Imports, Inc. (NYSE:PIR) securities from December 19, 2013 through February 10, 2015. The lawsuit seeks to recover damages for Pier 1 investors under the federal securities laws.
To join the Pier 1 class action, go to the firm’s website at http://www.rosenlegal.com/cases-508.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, Defendants made false and/or misleading statements and/or failed to disclose the truth concerning the Company's business prospects and financial condition. On February 10, 2015, Pier 1 revealed revised financial guidance for the fiscal year ending February 28, 2015. The revised guidance reflected lower than expected sales in January and February, as well as higher than projected expenses, primarily regarding incremental supply chain costs. On this news, shares of Pier 1 fell approximately 25% to $12.84 on February 11, 2015.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than October 26, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation go to the firm’s website at http://www.rosenlegal.com/cases-508.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll-free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.