NEW YORK, Sept. 4, 2013 /PRNewswire/ -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Stein Mart, Inc. (" Stein Mart" or the "Company") (NASDAQ: SMRT) (CUSIP: 858375108). Such investors are advised to contact Robert S. Willoughby at email@example.com or 888-476-6529, ext. 237. The investigation concerns whether Stein Mart and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. On August 22, 2013, Stein Mart announced that it was recently informed by the Securities and Exchange Commission that the agency is conducting an investigation related to Stein Mart's restatement of prior years' financial statements and its change in its auditors. On this news, shares of Stein Mart fell $0.89 per share to more than 6.50% from the opening price of $13.69 to close at $12.80 on August 22, 2013. The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com. CONTACT: Robert S. WilloughbyPomerantz Grossman Hufford Dahlstrom & Gross LLP firstname.lastname@example.org SOURCE Pomerantz Grossman Hufford Dahlstrom & Gross LLP
Shareholders of Stein Mart, Inc. looking to boost their income beyond the stock's 1.9% annualized dividend yield can sell the March covered call at the $17.50 strike and collect the premium based on the 45 cents bid, which annualizes to an additional 29.9% rate of return against the current stock price (at Stock Options Channel we call this the YieldBoost), for a total of 31.9% annualized rate in the scenario where the stock is not called away.