Pawar Law Group Reminds Investors of July 22 Deadline in Securities Class Action Lawsuit Against PriceSmart, Inc. – PSMT

NEW YORK, July 01, 2019 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of PriceSmart, Inc. (NASDAQ: PSMT) from October 26, 2017 through October 25, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for PriceSmart investors under the federal securities laws.

To express your interest in the PriceSmart class action, go http://pawarlawgroup.com/cases/pricesmart-inc/ or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company’s omni-channel business strategy had failed to reach key operating goals; (2) the Company’s South America distribution strategy had failed to realize key cost saving goals; (3) the Company had invested Trinidad and Tobago dollars into certificates of deposits with financial institutions; (4) these investments had been improperly classified as cash and cash equivalents; (5) the relevant corrections would materially impact financial statements; (6) there was a material weakness in the Company’s internal controls over financial reporting; (7) increasing competition negatively impacted the Company’s revenue and profitability; and (8) as a result, PriceSmart’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 22, 2019. 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 http://pawarlawgroup.com/cases/pricesmart-inc/   or call Vik Pawar, Esq. or toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.

No class has been certified.  Until a class is certified, you are not represented by counsel unless you hire one.  You may hire counsel of your choice.  You may also do nothing at this time and be an absent member of the class.  Your ability to share in any future recovery is not dependent upon being a lead plaintiff.  Attorney Advertising. Prior results do not guarantee a similar outcome. 

Pawar Law Group represents investors from around the world.
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Contact:  
Vik Pawar, Esq.  
Pawar Law Group  
20 Vesey Street, Suite 1210  
New York, NY 10007  
Tel: (917) 261-2277  
Fax: (212) 571-0938  
info@pawarlawgroup.com