Thieler Law Corp advises investors with losses exceeding $100,000 of the July 22, 2019 lead plaintiff deadline in a class action lawsuit filed against PriceSmart Inc (NASDAQ: PSMT) (“PriceSmart” or “the Company”). The suit is pending in the U.S. District Court for Southern District of California and investors, who purchased PriceSmart Inc securities between October 26, 2017 and October 25, 2018, have until July 22, 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 PriceSmart Inc 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 the Company's omni-channel business strategy had failed to reach key operating goals; the Company's South America distribution strategy had failed to realize key cost saving goals; the Company had invested Trinidad and Tobago dollars into certificates of deposits with financial institutions; these investments had been improperly classified as cash and cash equivalents; the relevant corrections would materially impact financial statements; there was a material weakness in the Company's internal controls over financial reporting; increasing competition negatively impacted the Company's revenue and profitability; and as a result, PriceSmart’s public statements were materially false and misleading at all relevant times.

On October 25, 2018, the Company revealed poor operating results for the fourth quarter and year ended August 31, 2018. In addition, the Company revealed that its Chief Executive Officer had resigned, and also revealed that certain financial statements would be restated to correct a balance sheet misclassification of certain assets.

Following this news, NASDAQ: PSMT fell from $81.57 per share on October 25, 2018 to a closing price of $69.16 on October 26, 2018.

If you were negatively impacted by your investment in PriceSmart Inc securities between October 26, 2017 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.

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