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Tripp Levy PLLC, a leading national securities law firm, announces an investigation into Primo Water Corporation (NASDAQ: PRMW). During Primo Water's fiscal second quarter of 2011, the company experienced a dramatic decline in sales. Notwithstanding the slowdown in sales, on May 10, 2011, Primo Water announced that sales growth was strong and provided investors with guidance of a 100% increase in sales over the same period a year ago. In addition, before disclosing its slowdown in growth, on May 31, 2011, the Company filed a registration statement for a secondary offering of common shares at a price to the public of $11.26 per share.
On August 10, 2011, after Primo Water reported its second quarter 2011 earnings, including its slowdown in sales growth, the Company’s shares plummeted from a price of $13.92 on August 9, 2010, to $5.40 on August 10, 2011 – a 61% decline. Over the next two days the Company’s shares continued to decline, to a close of $4.71 on August 12, 2011.
If you purchased Primo Water common stock during the period May 10, 2011 through August 9, 2011 and suffered losses on your purchase(s) and you wish to discuss this matter with us, or have information about these occurrences, please contact:
Tripp LevyTripp Levy PLLC125 East 82nd Street9th FloorNew York, New YorkToll Free: 877-772-3975Email:
Tripp Levy PLLC is a national law firm that specializes in securities litigation, shareholder rights, and corporate governance matters in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.