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Feb. 26, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading securities and shareholder rights law firm that represents shareholders throughout the nation, announces that it is investigating claims on behalf of purchasers of UTi Worldwide Inc. ("UTi" or the "Company") (NASDAQ: UTIW) securities during the period between
March 22, 2012 and
February 25, 2014, inclusive (the Class Period").
If you have suffered a net loss from investment in UTi securities purchased on or after
March 22, 2012 and held through the revelation of negative information on
February 25, 2014, as described below, you may obtain additional information about this investigation at no cost to you, by contacting Tripp Levy PLLC at
www.tripplevy.com, by email at
email@example.com, or by calling us toll free at 1-877-772-3975.
The investigation concerns defendants' potential violations of the Securities Exchange Act of 1934 by virtue of the defendants' failure to disclose during the Class Period that it had breached some debt covenants resulting in the Company reporting a loss for the fourth quarter. UTi also said it would have to raise about
$525 million in additional capital to pay off debt of at least
$400 million that could come due in April. The Company estimated a loss of
33-38 cents per share for the fourth quarter ended
Jan. 31, 2014.
Following the revelation on
February 25, 2014, after the markets closed, the value of UTi shares declined by approx. 30 percent.
If you are a shareholder of UTi during the Class Period and would like additional information regarding this matter, at no cost or expense, please contact us at: