NEW YORK, Feb. 22, 2013 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Western District of North Carolina on behalf of investors who purchased Family Dollar Stores, Inc. ("Family Dollar" or the "Company") (NYSE:FDO) stock between October 3, 2012 and January 2, 2013.
For more information, click here: http://zlk.9nl.com/family-dollar-fdo/.
The complaint alleges that during the Class Period, defendants issued materially false and misleading statements regarding Family Dollar's then-present sales demand, profitability and financial results for the first quarter of 2013 and for December 2012. As a result of defendants' false statements, Family Dollar's stock traded at artificially inflated prices throughout the Class Period, reaching a high of $71.20 per share by November 30, 2012. It is further alleged that during this time Family Dollar's senior executives cashed in, selling their own Family Dollar stock at artificially inflated prices; during the Class Period the Company's Chief Executive Officer sold more than $15.6 million worth of his Family Dollar stock.
On January 3, 2013, Family Dollar issued a press release disclosing that sales in the Company's first quarter 2013 had significantly underperformed and that the Company was slashing 2013 financial guidance. Upon this news, Family Dollar stock fell $8.30 per share to close at $55.74 on January 3, 2012.
If you suffered a loss in Family Dollar you have until April 22, 2013 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (877) 363-5972, or visit http://zlk.9nl.com/family-dollar-fdo/.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT: Levi & Korsinsky, LLP Joseph Levi, Esq. Eduard Korsinsky, Esq. 30 Broad Street - 24th Floor New York, NY 10004 Tel: (212) 363-7500 Toll Free: (877) 363-5972 Fax: (866) 367-6510 www.zlk.comSource:Levi & Korsinsky, LLP