NBTY
This article was originally published in The Tan Sheet
Executive Summary
Vitamin/supplement maker and several execs named defendants in a shareholder class action suit filed July 28 in Uniondale, N.Y. federal court on behalf of purchasers of NBTY stock between Jan. 27 and June 15. The lawsuit alleges the defendants, during the period in question, failed to disclose several adverse factors, including declining Vitamin World same-store sales due to a negative industry-wide trend and a negative impact on financial results from U.K. operations caused by fluctuation in the British pound sterling. The lawsuit alleges NBTY's stock dropped 36% following a June 15 company announcement regarding same-store sales and foreign currency weaknesses (1"The Tan Sheet" July 17, p. 10)