Ryan & Maniskas, LLP ( www.rmclasslaw.com/cases/prmw) announces that a class action lawsuit has been filed in United States District Court for the Middle District of North Carolina on behalf of purchasers of the common stock of Primo Water Corporation ("Primo Water" or the "Company") (NASDAQ: PRMW) in or traceable to the Company's initial public offering on or about November 4, 2010 and offering of common stock on or about June 17, 2011 (the "Offerings"), as well as purchasers of the Company's common stock between November 4, 2010 and August 10, 2011 (the "Class Period").
For more information regarding this class action suit, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/prmw.
The Complaint charges that Primo Water and certain of its officers, directors and underwriters violated federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) neither demand nor sales were as robust as represented; (ii) the Company's growth rate had slowed and would be slower for the rest of 2011; (iii) the Company would not meet the financial guidance it provided to investors; and (iv) defendants' positive statements about the Company were lacking in a reasonable basis when made.
On August 10, 2011, Primo Water announced its financial results for the second quarter of 2011. The Company reported a net loss of $2.0 million and also revised downward its financial projections for the third and fourth quarters of 2011. On this news, Primo Water stock fell to a close of $5.40.If you are a member of the class, you may, no later than January 31, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.