MINNEAPOLIS, Oct. 22, 2007 LAWFUEL – The Legal Newswire — Charles H. Johnson & Associates announces that a class action has been commenced in the United States District Court for the Eastern District of Pennsylvania on behalf of purchasers of NutriSystem, Inc. (“NutriSystem” or the
“Company”) (Nasdaq:NTRI) publicly traded securities during the period February 14, 2007 through October 4, 2007 (the “Class Period”).
If you are a member of the proposed Class, you may move the Court to serve as a lead plaintiff for the Class on or before December 10, 2007.
You do not need to be a lead plaintiff in order to share in any recovery that may be obtained.
The Complaint alleges that NutriSystem and certain of its officers and directors violated federal securities laws. During the Class Period, Defendants issued materially false and misleading statements that misrepresented and failed to disclose: (1) that the Company was signing up fewer new customers and was not performing according to internal expectations; (2) that the Company’s costs of acquiring new customers were significantly increasing; (3) that the Company’s performance was being negatively impacted by competition from other weight loss products on the market; and (4) as a result of the foregoing, Defendants lacked a reasonable basis for their positive statements about the Company and its prospects.
On October 3, 2007, after the market closed, the Company announced its preliminary third quarter 2007 results and revised earnings guidance for the full year of 2007. In response to this announcement, the price of NutriSystem common stock fell $15.98 per share, or approximately 34%, to close at $31.59 per share.
If you purchased NutriSystem, Inc. securities during the Class Period, or have any questions concerning this notice or your rights with respect to this matter, please contact:
Neal Eisenbraun, Esq. ([email protected])
Charles H. Johnson & Associates
2599 Mississippi Street
New Brighton, MN 55112