Family Dollar Stores Shareholder Alert: Briscoe Law and Powers Taylor Investigate Possible Breaches of Fiduciary Duty by Officers and Directors

Wed Mar 6, 2013 11:31am EST

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DALLAS--(Business Wire)--
Former United States Securities and Exchange Commission attorney Willie Briscoe,
founder of The Briscoe Law Firm, PLLC, and the securities litigation firm of
Powers Taylor, LLP announce that a federal class action lawsuit has been filed
against Family Dollar Stores, Inc. ("Family Dollar" or "Company") (NYSE: FDO).
The firms are investigating additional legal claims against the officers and
Board of Directors of Family Dollar during the period of October 3, 2012 to
January 2, 2013 (the "Class Period"). 

If you are an affected investor and you want to learn more about the lawsuit or
join the action, contact Willie Briscoe at The Briscoe Law Firm, PLLC, (214)
706-9314, or via email at WBriscoe@TheBriscoeLawFirm.com, or Zachary Groover at
Powers Taylor, LLP, toll free (877) 728-9607, via e-mail at
zach@powerstyalor.com. There is no cost or fee to you. 

In a recently filed federal class action complaint, Family Dollar and certain of
its officers and directors were charged with violating certain provisions of the
Securities Exchange Act of 1934. Specifically, the complaint alleges that among
other things, defendants` misrepresented and/or failed to disclose that: (a) the
Company`s intentional efforts to increase sales of certain consumables to better
compete with particular competitors significantly diminished profits in the
first quarter of 2013 and in December 2012; (b) significant price cuts made in
an attempt to move unsalable items diminished profits for the first quarter of
2013 and December 2012; (c) the Company`s sales of more profitable items
significantly underperformed expectations in the first quarter of 2013 and
during December 2012; (d) inflated inventories in stores would significantly
weigh down profitability in 2013; (e) despite defendants` press releases on
November 20, 2012 and December 24, 2012, the stores would actually be open in an
attempt to boost declining sales; and (f) based on the above, defendants lacked
a reasonable basis for their positive statements regarding the Company`s sales
and profitability during the Class Period. According to the complaint, when the
true facts were discovered, the price of Family Dollar stock fell significantly.


Shareholder rights attorney Willie Briscoe said, "Recent revelations about
alleged improper business practices and procedures regarding key aspects of
Family Dollar`s business and other misleading financial statements have prompted
the firms to investigate possible breaches of fiduciary duties and other
violations of state law by Family Dollar`s officers and directors. Based on our
investigation, we are prepared to pursue litigation to preserve the company and
the value of Family Dollar stock for all shareholders." 

The Briscoe Law Firm, PLLC is a full service business litigation, commercial
transaction, and public advocacy firm with more than 20 years of experience in
complex litigation and transactional matters. 

Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.

The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
WBriscoe@TheBriscoeLawFirm.com
or
Powers Taylor, LLP
Zachary Groover, 877-728-9607
zach@powerstyalor.com

Copyright Business Wire 2013

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