Cauley & Geller LLP Announces Class Action Lawsuit Against NBTY Inc. Seeking Damages on Behalf of Shareholders.Business Editors BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Aug. 2, 2000 The Law Firm of Cauley & Geller LLP LLP - Lower Layer Protocol announced today that it has filed a class action in the United States District Court for the Eastern District of New York EDNY redirects here, for other uses see EDNY (disambiguation). The United States District Court for the Eastern District of New York is the federal district court whose jurisdiction comprises the entirety of Long Island (including the portion in New York City) and Staten on behalf of all individuals and institutional investors that purchased the securities of NBTY Inc. ("NBTY" or the "Company") (Nasdaq:NBTY) between Jan. 27, 2000 and June 15, 2000, inclusive (the "Class Period"). The complaint charges that the company and certain of its officers and directors violated the federal securities laws by providing materially false and misleading information about the company's financial condition and future growth potential. Specifically, the complaint alleges that the defendants failed to disclose several adverse factors which signaled a dramatic slowing of its growth and, as a result, a decline in its same store sales Same Store Sales A statistic used in retail industry analysis. It compares sales of stores that have been open for a year or more. Notes: This statistic allows investors to determine what portion of new sales has come from sales growth and what portion from the opening of . According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the complaint, the defendants failed to disclose (1) that sales at the company's Vitamin World Vitamin World, one of the major brands owned by NBTY,[1] is a manufacturer of vitamins and nutritional supplements distributed in retail stores in the United States. Vitamin World has roughly 450 retail stores throughout the U.S. stores were declining as demand for nutritional supplements Nutritional Supplements Definition Nutritional supplements include vitamins, minerals, herbs, meal supplements, sports nutrition products, natural food supplements, and other related products used to boost the nutritional content of the diet. was weakening; (2) that the company's financial results were being negatively impacted by fluctuations in the value of the British Pound -- as a result of the company's Holland & Barrett stores which operate primarily in the U.K; and (3) that the company did not derive any meaningful benefit from its "vertical integration" efforts -- acquisitions of nutritional supplement companies in different segments of the supplemental business. As a result of these false and misleading statements the company's stock traded at artificially inflated prices during the class period. Prior to the disclosure of the above mentioned adverse facts, certain insiders took advantage of the inflated stock price by selling millions of dollars worth of their stock to the investing public, reaping enormous insider profits. When the truth about the company was revealed, the price of the stock dropped significantly. Cauley & Geller LLP has substantial experience representing investors in securities fraud class action lawsuits class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax such as this. The firm has offices in Florida, Arkansas and California, but represents shareholders from throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you must meet certain requirements and take appropriate action by Sept. 26, 2000. You are encouraged to call or e-mail the Firm or visit the Firm's Web site at www.classlawyer.com. CAULEY & GELLER LLP 225 Broadway, Suite 1900 San Diego, CA 92101 E-mail: CauleyPA@aol.com 888/551-9944 -- toll free www.classlawyer.com |
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