Primo Water Corporation Investor Files Class Action Lawsuit Alleging Securities Laws Violations

If you purchased common stock of Primo Water Corporation (NASDAQ:PRMW) in or traceable to its initial public offering on or about November 4, 2010 and the its offering of common stock on or about June 17, 2011 (the "Offerings"), and/or Primo Water's common stock between November 4, 2010 and August 10, 2011, you have certain options and there are strict and short deadlines running. Deadline: Jan 31, 2012. NASDAQ PRMW stockholders should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Primo Water
Case Name: 
Primo Water Shareholder Class Action 12/02/2011
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: PRMW
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
12/02/2011
Class Period Begin: 
11/04/2010
Class Period End: 
08/10/2011
Court of Filing: 
U.S. District Court for the Middle District of North Carolina
Deadline To File for Lead: 
01/31/2012
Summary: 

Update: Primo Water Corporation on Dec. 6, 2011 announced that it intends to vigorously defend recent allegations against the Company made in a purported class action securities lawsuit. Primo Water Corporation said it believes the claims are without merit.

San Diego, Dec. 2, 2011 (Shareholders Foundation) -- An investor in shares of Primo Water Corporation (Public, NASDAQ:PRMW) filed a lawsuit in U.S. District Court for the Middle District of North Carolina against Primo Water Corp. over alleged Violations of Federal Securities Laws.

According to the complaint the plaintiff alleges on behalf investors of common stock of Primo Water Corporation in or traceable to its initial public offering on or about November 4, 2010 and its initial public offering on or about June 17, 2011, as well as purchasers of NASDAQ PRMW stock between November 4, 2010 and August 10, 2011, that Primo Water Corporation and certain of its officers and directors and the underwriters of the Offerings violated the Securities Act of 1933 and the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding Primo Water's business and prospects
Primo Water Corporation reported that its annual Revenue rose from $13.45million in 07 to $46.98million in 2009. However, in 2010 its annual Revenue fell to $44.61million with a $12.89million Net Loss. Despite that Primo Water’s third quarter Revenue rose from $10.90million last year to $24.11million this year, its third quarter Net Loss increased to from $2.99million a year earlier to $3.30million for the third quarter in 2011.

Shares of Primo Water Corporation fell significantly from $14.59 on August 4, 2011 to as low as $3.82 on August. 22, 2011, after Primo Water Corporation on August 10, 2011announced financial results for the second quarter ended June 30, 2011.

Since then NASDAQ: PRMW continued to decline to as low as $2.75 per share on November 28, 2011.