(ShareholderAlert.com) — Shareholder Alert, a free shareholder news & information service announces that class actions have commenced on behalf of shareholders of PriceSmart, Inc. (NASDAQGS: PSMT). If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff. Shareholders interested in serving as lead plaintiff have until the deadlines listed to petition the court and further details about the cases can be found below.
PriceSmart, Inc. (NASDAQGS: PSMT)
Class Period: October 26, 2017 – October 25, 2018
Lead Plaintiff Deadline: July 22, 2019
The lawsuit alleges: PriceSmart, Inc. made materially false and/or misleading statements and/or failed to disclose that: (1) that the Company’s omni-channel business strategy had failed to reach key operating goals; (2) that the Company’s South America distribution strategy had failed to realize key cost saving goals; (3) that the Company had invested Trinidad and Tobago dollars into certificates of deposits with financial institutions; (4) that these investments had been improperly classified as cash and cash equivalents; (5) that the relevant corrections would materially impact financial statements; (6) that there was a material weakness in the Company’s internal controls over financial reporting; (7) that increasing competition negatively impacted the Company’s revenue and profitability; and (8) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.