United Natural Foods, Inc. (NASDAQ:UNFI) Investor InvestigationOver Potential Securities Laws Violations Announced

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Company Name(s): 
United Natural Foods
Affected Securities: 

July 24, 2015 (Shareholders Foundation) - An investigation on behalf of investors of United Natural Foods, Inc. (NASDAQ:UNFI) shares over potential securities laws violations by United Natural Foods 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 United Natural Foods, Inc. (NASDAQ:UNFI) concerning whether a series of statements by United Natural Foods regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

United Natural Foods, Inc. reported that its Total Revenue rose from over $4.53 billion for the 12 months that ended on July 30, 2011 to over $6.79 billion for the 52 weeks period that ended on August 2, 2014 and that its respective Net Income increased from $76.67 million to $125.48 million.

Shares of United Natural Foods, Inc. (NASDAQ:UNFI) grew from $58.71 per share on August 1, 2014 to as high as $83.04 per share in February 2015.

On On July 20, 2015 United Natural Foods, Inc. announced that its contract as a distributor to Albertsons Companies, Inc. (“Albertsons”), which includes the Albertsons, Safeway and Eastern Supermarket chains, will terminate on September 20, 2015, rather than upon the original contract end date of July 31, 2016.

Shares of United Natural Foods, Inc. (NASDAQ:UNFI) declined on July 22, 2015 to as low as $51.12 per share.