An investigation for investors in NYSE:TBI shares over potential securities laws violations by Trueblue and certain of its directors and officers was announced.
Investors who purchased shares of Trueblue Inc (NYSE:TBI), 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 focuses on whether certain statements by Trueblue regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On April 20, 2016, Trueblue Inc reported its 2016 first quarter results. During the first quarter 2016 earnings call the CEO of Trueblue Inc said that the results for the first quarter were disappointing compared to the expectations and that one of the areas impacting the results and the outlook is a change in scope of services for our largest customer. More specifically, the CEO of Trueblue Inc said that in April, Trueblue Inc was notified by Amazon of their intent to shift Trueblue’s scope of services over the next year from serving many of their U.S. fulfillment centers to serving Canada’s fulfillment centers along with being the key provider for their U.S. delivery stations which are the smaller package-sorting centers closer to their customers’ final delivery location and that the shift in Trueblue’s scope of services is to assist them with the highest growth segment of their delivery system as they ramp up many of these locations over the next few years. The CEO of Trueblue Inc said the result of this shift in Trueblue’s scope of services will be approximately $180 million less in revenue and $10 million less in EBITDA during 2016.
Shares of Trueblue Inc (NYSE:TBI) declined to as low as $19.72 per share on April 21, 2016.
On May 9, 2016, NYSE:TBI shares closed at $19.00 per share.
Those who purchased NYSE:TBI shares 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