NEW YORK, Dec. 9, 2016 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of Fred's, Inc.
(NASDAQ: FRED) ("Fred's" or the "Company"). Such investors
are advised to contact Robert S.
Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.
9980.
The investigation concerns whether Fred's and certain of its
officers and/or directors have engaged in securities fraud or other
unlawful business practices.
[Click here to join a class action]
On December 8, 2016, post-market,
Fred's announced the Company's 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 the Company's earnings call, Fred's would not
take calls from analysts, citing a "pending transaction."
On this news, Fred's stock has fallen as much as $1.14, or 10.52%, during intraday trading on
December 9, 2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP