Fred’s, Inc. (NASDAQ:FRED) Investor Investigation Concerning Potential Securities Laws Violations Announced

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December 12, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Fred’s, Inc. (NASDAQ:FRED) shares over potential securities laws violations by Fred’s, 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 Fred’s, Inc. (NASDAQ:FRED) concerning whether a series of statements by Fred’s, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Fred's, Inc. reported that its Total Revenue rose from over $1.97 billion for the 52 weeks period that ended on January 31, 2015 to over $2.15 billion for the 52 weeks period that ended on January 30, 2016 and that its Net Loss for those respective time periods decreased from $28.90 million to $7.37 million.

On December 8, 2016, Fred's announced its results for the third quarter of 2016, reporting a net loss of $38.4 million, compared to net income of $1.4 million for the same period in the prior year. During Fred's, Inc’s earnings call, the company would not take calls from analysts, citing a "pending transaction.”

Shares of Fred's, Inc. (NASDAQ:FRED) closed on December 12, 2016 at $11.51 per share.