Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the District of Connecticut on behalf of all persons or entities that purchased the securities of Blyth, Inc. (“Blyth” or the “Company”) (NYSE: BTH) between March 14, 2012 and November 6, 2012, inclusive, (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company, certain of its officers and directors (the “Complaint”).
If you purchased shares of Blyth during the Class Period and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 825 East Gate Boulevard, Suite 300, Garden City, NY at (888) 969-4242, by e-mail to firstname.lastname@example.org, or at: http://www.rigrodskylong.com/investigations/blyth-inc-bth.
Blyth, a Delaware corporation headquartered in Greenwich, Connecticut, is a direct to consumer business focused on direct selling and direct marketing channels. The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements regarding the Company’s business operations, financial condition and prospects. Specifically, the Complaint alleges that the defendants failed to disclose that the Company would not be able to complete the announced initial public offering (“IPO”) for ViSalus, Inc. (“ViSalus”), a wholly-owned subsidiary of Blyth. As a result of defendants’ false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, the Company acquired a 57.5% equity interest ViSalus in a two phase takeover that was completed in April 2011. On March 14, 2012, the Company announced that Blyth’s FY 2012 earnings would increase 39% over FY 2011 earnings, citing a purported strong “growth in ViSalus.” Again, in May and August of 2012, Defendants increased Blyth’s FY 2012 earnings guidance by approximately 10% each time, again citing purported strong performance in its ViSalus unit.
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