LOS ANGELES–(BUSINESS WIRE)–lt;a href="https://twitter.com/search?q=%24PSMT&src=ctag" target="_blank"gt;$PSMTlt;/agt; lt;a href="https://twitter.com/hashtag/ClassAction?src=hash" target="_blank"gt;#ClassActionlt;/agt;–The
Schall Law Firm, a national shareholder rights litigation firm,
announces the filing of a class action lawsuit against PriceSmart, Inc.
(“PriceSmart” or “the Company”) (NASDAQ: PSMT)
for violations of §§10(b) and 20(a) of the Securities Exchange Act of
1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and
Investors who purchased the Company’s shares between October 26, 2017
and October 25, 2018, inclusive (the “Class Period”), are encouraged to
contact the firm before July 22, 2019.
If you are a shareholder who suffered a loss, click
here to participate.
We also encourage you to contact Brian Schall, or Rina Restaino, of the
Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA
90067, at 424-303-1964, to discuss your rights free of charge. You can
also reach us through the firm’s website at www.schallfirm.com,
or by email at email@example.com.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If you
choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading
statements to the market. PriceSmart’s omni-channel business strategy
failed to achieve its goals. The Company’s South American strategy also
failed to achieve cost savings. The Company invested Trinidad and Tobago
dollars in certificates of deposit with financial institutions, but
improperly classified these investments as cash and cash equivalents.
Correcting these misclassifications would materially impact the
Company’s financial statements. The Company suffered from a material
weakness in its internal controls over financial reporting. Based on
these facts, the Company’s public statements were false and materially
misleading throughout the class period. When the market learned the
truth about PriceSmart, investors suffered damages.
the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder rights
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and rules of ethics.