|Company name||PriceSmart, Inc.|
NEW YORK, January 28, 2019 – 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.
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, 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 email@example.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.