The Shareholders Foundation announces that an investigation on behalf of current long-term investors in shares of Potbelly Corp (NASDAQ:PBPB) shares is ongoing over potential breaches of fiduciary duties by certain officers and directors at Potbelly.
Investors who purchased shares of Potbelly Corp (NASDAQ:PBPB) and currently hold any of those NASDAQ:PBPB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain Potbelly officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
On October 4, 2013 Potbelly Corp stock opened for trading under NASDAQ:PBPB at $28.66. Potbelly Corp sold 7.5 million shares of stock in its initial public stock offering (the “IPO”), raising $105 million in new capital.
Potbelly Corp reported that its Total Revenue rose from $299.71 million for the 52 weeks period that ended on Dec. 29, 2013 to $326.98 million for the 52 weeks period that ended on Dec. 28, 2014 and that its respective Net Inomce increased from $1.26 million to $4.36 million.
On February 26, 2015, Potbelly Corporation (Nasdaq:PBPB) announced that Charles Talbot, Chief Financial Officer, will be leaving Potbelly to accept a senior leadership position with another company outside of the restaurant industry. Mr. Talbot will continue to serve as Potbelly’s CFO, while an external search is underway, until his departure on March 27, 2015. Shares of Potbelly Corp (NASDAQ:PBPB) declined to as low as $12.35 per share on March 11, 2015.
On March 17, 2015 NASDAQ:PBPB shares closed at $13.13 per share.
Those who purchased shares of Potbelly Corp (NASDAQ:PBPB) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com