Brower Piven Encourages Investors Who Have Losses in Excess of $250,000 From
Investment in Family Dollar Stores, Inc. to Inquire About the Lead Plaintiff
Position in Securities Fraud Class Action Lawsuit Before the April 22, 2013
Lead Plaintiff Deadline -- FDO
STEVENSON, M.D., Feb. 22, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A
Professional Corporation announces that a class action lawsuit has been
commenced in the United States District Court for the Western District of
North Carolina on behalf of purchasers of Family Dollar Stores, Inc. ("Family
Dollar" or the "Company") (NYSE:FDO) common stock during the period between
October 3, 2012 and January 2, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Family Dollar Stores, Inc.
common stock purchased on or after October 3, 2012, and held through January
2, 2013, you may obtain additional information about this lawsuit and your
ability to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at firstname.lastname@example.org, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley
Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined
experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action. Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and the Class, you must apply
to be appointed lead plaintiff no later than April 22, 2013 and be selected by
the Court. The lead plaintiff will direct the litigation and participate in
important decisions including whether to accept a settlement and how much of a
settlement to accept for the Class in the action. The lead plaintiff will be
selected from among applicants claiming the largest loss from investment in
the Company during the Class Period. You are not required to have sold your
shares to seek damages or to serve as a Lead Plaintiff.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the defendants' failure to disclose during the Class
Period that the Company concentrated on increasing sales of low-margin,
high-turnover merchandise to increase foot traffic and implemented significant
price cuts on unsalable inventory that significantly diminished profits in the
first quarter of 2013 and in December 2012, that significant price cuts
undertaken to move existing inventory had also significantly diminished
profits in the first quarter of 2013 and December 2012, that the Company's
sales of more profitable discretionary items had significantly underperformed
expectations in the first quarter of 2013 and December 2012, and that the
Company's bloated inventories would significantly weigh down 2013
profitability. According to the Complaint, following Family Dollar's January
3, 2013 disclosure that for its first quarter 2013 and December 2012 sales had
underperformed, that inventories had increased, and that the Company was
significantly lowering its fiscal guidance for its second quarter 2013 and
fiscal year 2013, the value of Family Dollar shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice. You
need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
Press spacebar to pause and continue. Press esc to stop.