The Shareholders Foundation announces that an investor in shares of Boulder Brands Inc (NASDAQ:BDBD), filed a lawsuit in the U.S. District Court for the District of Colorado over alleged violations of Federal Securities Laws by Boulder Brands Inc (NASDAQ:BDBD in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Boulder Brands Inc (NASDAQ:BDBD) have certain options and for certain investors are short and strict deadlines running. Deadline: June 1, 2015. NASDAQ:BDBD investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Boulder Brands Inc (NASDAQ:BDBD) common shares between December 23, 2013 and October 22, 2014, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that defendants allegedly failed to disclose that Boulder Brands Inc was having problems with its inventory management and the integration of recent acquisitions, that Boulder Brands’ ongoing mix shift to lower margin products made its previously announced margin improvements unattainable, and that as a result of defendants’ statements and omissions, Boulder Brands Inc stock traded at allegedly artificially inflated prices between December 23, 2013 and October 22, 2014, reaching a high of $17.94 per share on April 2, 2014.
On December 23, 2013 Boulder Brands Inc announced that it acquired 100% of the equity interests of Phil’s Fresh Foods, LLC, owner of EVOL Foods (“EVOL”), for $48 million, before future tax benefits. Boulder Brands is buying EVOL from founder Phil Anson and a group of investors including Alliance Consumer Growth and an investment vehicle created by Revelry Brands and Spier Capital Management.
On October 22, 2014, Boulder Brands Inc provided an update on its anticipated third quarter 2014 financial results and its outlook for the fourth quarter of 2014, disclosing that during “the third quarter, we faced a number of headwinds that impacted our financial results.” Boulder Brands Inc further disclosed that the “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, Boulder Brands Inc revealed it was “expecting lower shipments due to a normalizing of certain inventories at our largest customer.” Shares of Boulder Brands Inc (NASDAQ:BDBD) declined to as low as $8.47 per share on October 24, 2014.
On February 26, 2015, Boulder Brands Inc announced its 2014 fourth quarter results. Boulder Brands Inc reported that while its annual Total Revenue rose from $461.34 million in 2013 to $516.63 million in 2014, its Net Income of $10.43 million in 2013 declined to a Net Loss of $127.08 million in 2014.
On April 13, 2015, shares of Boulder Brands Inc (NASDAQ:BDBD) closed at $10.35 per share.
Those who purchased shares of Boulder Brands Inc (NASDAQ:BDBD) have certain options and should contact the Shareholders Foundation.
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