WAYNE, Pa., Aug. 12, 2013 /PRNewswire/ -- Ryan & Maniskas, LLP (www.rmclasslaw.com/cases/fbn) announces that it is investigating potential claims against Furniture Brands International Inc. (NYSE: FBN) ("FBN" or the "Company") on behalf of those who purchased FBN common stock between February 13, 2013 and August 5, 2013 (the "Class Period").
The investigation concerns whether FBN and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
FBN carries its trade name on its books as an asset. FBN determines its trade name's value by carrying out tests in the fourth quarter of its calendar fiscal year. In its 2012 10-K, filed March 6, 2013, FBN carried its trade name on its books at a value of about $76 million (out of about $618 of total assets), after an impairment of about $1.1 million from the test it had run in the fourth quarter of 2012.
On August 6, FBN announced its results for the second quarter of 2013. FBN reported that it had recorded a goodwill impairment of over $10.8 million. On this news, shares of FBN fell 38%.
For more information regarding this, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/fbn. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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