IMPORTANT INVESTOR REMINDER: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Costco Wholesale Corp...
November 08 2018 - 3:36PM
Business Wire
The Schall Law Firm, a national shareholder rights litigation
firm, announces the filing of a class action lawsuit against Costco
Wholesale Corporation (“Costco” or “the Company”) (NASDAQ: COST)
for violations of §§10(b) and 20(a) of the Securities Exchange Act
of 1934 and Rule 10b-5 promulgated thereunder by the U.S.
Securities and Exchange Commission.
Investors who purchased the Company's shares between June 6,
2018 and October 25, 2018, inclusive (the "Class Period"), are
encouraged to contact the firm before January 7, 2019.
If you are a shareholder who suffered a loss, click here to
participate.
We also encourage you to contact Brian Schall, or Sherin
Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite
404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights
free of charge. You can also reach us through the firm's website
at www.schallfirm.com, or by email
at brian@schallfirm.com.
The class, in this case, has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, the Company made false and
misleading statements to the market. Costco failed to maintain
appropriate internal controls over financial reporting. The Company
admitted on October 4, 2018, that “in its upcoming fiscal 2018
Annual Report on Form 10-K, it expects to report a material
weakness in internal control. The weakness relates 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.
The access issues relate to the extent of privileges afforded users
authorized to access company systems.” Based on these facts, the
Company’s public statements were false and materially misleading
throughout the class period. When the market learned the truth
about Costco, investors suffered damages.
Join the case to recover your losses.
The Schall Law Firm represents investors around the world and
specializes in securities class action lawsuits and shareholder
rights litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and rules of
ethics.
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version on businesswire.com: https://www.businesswire.com/news/home/20181108005928/en/
The Schall Law FirmBrian Schall, Esq.,Sherin Mahdavian,
Esq.,www.schallfirm.com310-301-3335info@schallfirm.com
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