INVESTOR ALERT: Law Offices of Howard G. Smith Announces Lead Plaintiff Deadline In The Class Action Lawsuit Against UTi Worldwide Inc.

BENSALEM, Pa.--(BUSINESS WIRE)--

Law Offices of Howard G. Smith reminds investors that all purchasers of the securities of UTi Worldwide Inc. (“UTi” or the “Company”) UTIW between December 5, 2013 and February 25, 2014, inclusive (the “Class Period”), have until May 16, 2014, to file a motion to be appointed as lead plaintiff in the shareholder lawsuit.

UTi provides supply chain services and solutions including airfreight forwarding, ocean freight forwarding, customs brokerage, contract logistics and related services worldwide. The Complaint alleges that UTi was experiencing a severe liquidity crunch during the foregoing period and was rapidly depleting its lines of credit as a result of problems with the rollout of a new freight-forwarding operating system. The undisclosed liquidity problems were so severe that the Company was at risk of breaching its financing covenants and, to provide UTi with emergency financing, the Company was forced to engage in a heavily dilutive offering of convertible notes and preferred shares totaling over $500 million.

If you purchased UTi securities during the Class Period, you may move the Court no later than May 16, 2014, to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class, you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at http://www.howardsmithlaw.com.