We are investigating PriceSmart, Inc. (PSMT) (“PriceSmart” or the “Company”) for potential violations of the federal securities laws.
On October 25, 2018, PriceSmart disclosed disappointing financial and operating results for the fourth quarter and year ended August 31, 2018. PriceSmart also announced that its Chief Executive Officer had resigned, and disclosed that certain financial statements would need to be restated to correct a balance sheet misclassification of certain assets. On this news, PriceSmart’s stock price fell $12.42 per share, or roughly 15.2%, to close at $69.15 per share on October 26, 2018.