- Do you, or did you, own shares of Fairway Group Holdings Corp. (NASDAQ GM: FWM )?
- Did you purchase your shares between April 16, 2013 and February 6, 2014, inclusive?
- Did you lose money in your investment in Fairway Group Holdings Corp.?
- Do you want to discuss your rights?
According to the Complaint, on February 6, 2014, Fairway reported earnings that severely missed analysts’ estimates including very disappointing same store sales, as well as increased direct store expenses. Moreover, the Company reported a colossal miss in EBITDA growth for the third quarter as EBITDA grew 3/2% over the same period in the prior year compared to growth of “20% - 25%” that management had predicted. Additionally, the Company announced the retirement of its Chief Executive Officer, Herbert Ruetsch, ten months after the Company’s IPO.On this news, shares in Fairway plummeted almost 29%, closing at $8.12 per share on February 7, 2014, on heavy trading volume of over 5.5 million shares. If you wish to serve as lead plaintiff, you must move the Court no later than April 15, 2014. A lead plaintiff is a representative party acting 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. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States. Attorney advertising. Prior results do not guarantee a similar outcome.