NEW YORK, May 21, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, a global investor rights firm, reminds purchasers of Boulder Brands, Inc. (Nasdaq:BDBD) securities from December 23, 2013 through October 22, 2014 of the important June 1, 2015 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Boulder Brands investors under the federal securities laws.
To join the Boulder Brands class action, go to the firm's website at http://www.rosenlegal.com/cases-568.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit alleges that Boulder Brands made false and/or misleading statements, as well as failed to disclose material adverse facts pertaining to the Company's business and prospects. Specifically, the Company failed to disclose that it was having problems with its inventory management and the integration of recent acquisitions, and that the Company's ongoing mix shift to lower margin products made its previously announced margin improvements unattainable.
On October 22, 2014, the Company provided an update on its anticipated third quarter 2014 financial results, disclosing that during "the third quarter, we faced a number of headwinds that impacted our financial results." The Company further disclosed that the "mix shift of our fast-growing, lower margin Natural segment is significantly outpacing our higher margin Balance segment and is therefore putting increased pressure on our gross margins." In addition, the Company revealed it was "expecting lower shipments due to a normalizing of certain inventories at our largest customer." On this news, shares of Boulder Brands fell sharply, falling from $12.73 per share on October 21, 2014 to close at $9.62 per share on October 22, 2014. The next day, Boulder's stock experienced an additional drop, closing on October 23, 2014 at $8.99 per share, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than June 1, 2015. If you wish to join the litigation, go to the firm's website at http://www.rosenlegal.com/cases-568.html or to discuss your rights or interests regarding this class action, please contact, Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.