Blyth, Inc. (NYSE:BTH) Investor Faces Investigation Over Possible Violations Of Securities Laws
Oct. 15, 2012 (Shareholders Foundation) -- An investigation on behalf of investors of Blyth, Inc. (NYSE:BTH) shares over potential securities laws violations by Blyth, Inc. and certain of its directors and officers in connection certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Blyth, Inc. (NYSE:BTH) concerning whether a series of statements by Blyth, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Blyth, Inc. (NYSE:BTH) reported that its Total Revenue rose from $796.60 million for the 12 months period that ended on January 31, 2011 to $888.33 million for the 12 months period that ended on December 31, 2011. However, its Net Income declined over the same time periods from $28.03 million to $22.57 million.
On August 3, 2012, Blyth, Inc. (NYSE:BTH) increased its 2012 Earnings guidance.
Then on August 16, 2012, ) Blyth, Inc. (NYSE:BTH) announced that ViSalus has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a potential initial public offering (“IPO”) of its Class A common stock. Blyth, Inc. said that following the IPO, Blyth will continue to own over 50% of ViSalus' common stock.
Shares of Blyth, Inc. (NYSE:BTH) increased from $33.47 per share on August 2, 2012 to as high as $45.57 per share on August 20, 2012.
Then on September 26, 2012, ViSalus, a subsidiary of Blyth, Inc. (NYSE:BTH), withdrew its initial public offering due to uncertain market conditions.
Shares of Blyth, Inc. (NYSE:BTH) fell from over $45 in August to as low as $24.51 per share on September 27, 2012.
On October 15, 2012, NYSE:BTH shares closed at $26.96 per share.