Robbins Geller Rudman & Dowd LLP (“Robbins Geller”) (http://www.rgrdlaw.com/cases/blyth/) today announced that a class action has been commenced in the United States District Court for the District of Connecticut on behalf of purchasers of Blyth, Inc. (“Blyth”) (NYSE:BTH) common stock during the period between March 14, 2012 and November 6, 2012 (the “Class Period”).
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff’s counsel, Samuel H. Rudman or David A. Rosenfeld of Robbins Geller at 800/449-4900 or 619/231-1058, or via e-mail at firstname.lastname@example.org. If you are a member of this class, you can view a copy of the complaint as filed or join this class action online at http://www.rgrdlaw.com/cases/blyth/. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
The complaint charges Blyth and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Blyth is a marketing and manufacturing company that sells personal and decorative products throughout North America.
The complaint alleges that, during the Class Period, defendants issued materially false and misleading statements regarding the Company’s financial performance and future prospects. In particular, the complaint alleges that the nature and ongoing viability of the strong results being reported for ViSalus, Inc., a multilevel weight loss marketing company the Company owns a controlling interest in, were being overstated, and that this was masking declining performance in the Company’s other operating units and product lines.
The complaint alleges that beginning with a September 21, 2012 Moody’s Investors Services cut in its outlook for the Company, the market began to learn through a series of partial disclosures ending on November 6, 2012, that the Company’s financial soundness and business metrics were not as they had been represented during the Class Period. As Blyth’s stock price was pummeled with each of these revelations, more than $462 million in market capitalization was simply erased.
Plaintiff seeks to recover damages on behalf of all purchasers of Blyth common stock during the Class Period (the “Class”). The plaintiff is represented by Robbins Geller, which has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.
Robbins Geller represents U.S. and international institutional investors in contingency-based securities and corporate litigation. With nearly 200 lawyers in nine offices, the firm represents hundreds of public and multi-employer pension funds with combined assets under management in excess of $2 trillion. The firm has obtained many of the largest recoveries and has been ranked number one in the number of shareholder class action recoveries in MSCI’s Top SCAS 50 every year since 2003. According to Cornerstone Research, the firm’s recoveries have averaged 35% above the median for all firms over the past seven years (2005-2011). Please visit http://www.rgrdlaw.com for more information.