Costco Wholesale Corporation
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | Costco Wholesale Corporation |
Stock Symbol : | NASDAQ: COST |
Class Period Start: | 06/06/2018 |
Class Period End: | 10/25/2018 |
Lead Plaintiff motion: | 01/07/2019 |
Date Filed: | 11/05/2018 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Western District of Washington |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the January 7, 2019 lead plaintiff deadline in a class action lawsuit filed against Costco Wholesale Corporation (NASDAQ: COST) (“Costco” or “the Company”). The suit is pending in the U.S. District Court for the Western District of Washington and investors, who purchased Costco Wholesale Corporation securities between June 6, 2018 and October 25, 2018, have until January 7, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased Costco Wholesale Corporation securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Costco lacked effective internal control over financial reporting; as a result of the foregoing, Defendants’ statements about Costco’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis. On October 4, 2018, the Company revealed its financial and operating results for the fiscal fourth quarter and year ended September 2, 2018. Costco stated, in part, that “it expects to report a material weakness in internal control”, specifically “relat[ing] to general information technology controls in the areas of user access and program change-management over certain information technology systems that support the Company’s financial reporting processes.” Following this news, NASDAQ: COST fell $12.86 per share, or roughly 5.55%, to close at $218.82 per share on October 5, 2018. On October 26, 2018, the Company filed its annual report for the fiscal fourth quarter and year ended September 2, 2018, which reported that the Company had identified a material weakness as previously described in its October 4, 2018 press release. Following this news, NASDAQ: COST fell $8.21 per share, or roughly 3.63%, to close at $218.90 per share on October 26, 2018. If you were negatively impacted by your investment in Costco Wholesale Corporation securities between June 6, 2018 and October 25, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Materials are provided for informational purposes only and do not constitute legal advice. We are only licensed to practice law in Germany. We are neither licensed nor qualified to render advice on US Federal or State law. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |