|[March 19, 2014]
Wolf Haldenstein Adler Freeman & Herz LLP Announces the Filing of a Securities Class Action against UTi Worldwide Inc.
NEW YORK --(Business Wire)--
Wolf Haldenstein Adler Freeman & Herz, LLP announces that a class action
lawsuit has been filed in the United States District Court for the
Central District of California on behalf of all persons or entities that
purchased the securities of UTi Worldwide Inc. (NASDAQ:UTIW) within the
class period of December 5, 2013 through February 25, 2014, inclusive.
The filed action charges that the Company did not previously disclose to
shareholders that it was facing severe liquidity issues and was in
danger of violating important debt covenants. In order to raise cash to
prevent a default, the Company was forced to issue heavily dilutive
convertible notes and preferred shares totaling over $500 million. The
disclosure of the true financial condition of the Company led to a
decline of $4.52 per share of February 26, 2014, wiping out over $470
million in market capitalization.
Wolf Haldenstin has represented individual and institutional investors
for many years, serving as lead counsel in numerous cases in United
States federal and state courts. Please visit the Wolf Haldenstein
for more information about the firm.
If you purchased UTi Worldwide Inc. shares during the Class Period you
may, no later than May 16, 2014, request that the Court appoint you lead
plaintiff. If you are a shareholder of UTi Worldwide Inc., who suffered
a material loss on your shares and would like additional information
concerning your rights in this matter, please contact us immediately:
Patrick Donovan, Esquire
Gregory Stone, Director of Case
and Financial Analysis
Wolf Haldenstein Adler Freeman & Herz LLP
New York, New York 10016
Phone (News - Alert) Numbers:
or firstname.lastname@example.org and please
reference "UTi Worldwide Inc."
Wolf Haldenstein Adler Freeman & Herz LLP did not file the original
complaint against UTi Worldwide Inc.
Attorney Advertising. Prior results do not guarantee or predict a
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