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NEW YORK, Nov. 20, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against PriceSmart, Inc. (NASDAQ:PSMT). Our investigation concerns whether PriceSmart has violated the federal securities laws and/or engaged in other unlawful business practices.
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On October 25, 2018, PriceSmart filed a Form 8-K disclosing the discovery of "a balance sheet misclassification . . . involving the company's presentation of short-term investments as cash and cash equivalents." As a result of the misclassification, the company announced that certain financial statements would need to be restated and that it "expects to include in its Form 10-K a conclusion that there was a material weakness in internal controls over financial accounting related to this misclassification."
On this news, the price of PriceSmart shares fell nearly 15%, closing at $69.16 on October 26, 2018.
If you purchased or otherwise acquired PriceSmart shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
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Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into PriceSmart please go to http://www.bespc.com/psmt/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.