BG Staffing investigation over potential wrongdoing
Investors who purchased shares of BG Staffing Inc. and currently hold any of those shares have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call 1(858) 779 - 1554.
The investigation by a law firm concerns whether certain BG Staffing officers and directors breached their fiduciary duties owed to NYSEMKT:BGSF shareholders.
On May 7, 2015, BG Staffing Inc will hold its annual meeting of stockholders. Among other things, BG Staffing Inc is asking shareholders to vote to amend BG Staffing's Bylaws to provide for reimbursement to the Company and certain other persons of litigation expenses with respect to unsuccessful proceedings involving stockholders and certain other persons.
However, according to the investigation the proposed changes to BG Staffing's Bylaws are not in the best interest of NYSEMKT:BGSF stockholders and could cause financial damages to NYSEMKT:BGSF stockholders in the long run.
BG Staffing Inc reported that its Total Revenue rose from $151.68 million for the 52 weeks period that ended on December 29, 2013 to $172.81 million for the 52 weeks period that ended on December 28, 2014 while its Net Income of $8.30 million for the 52 weeks period that ended on December 29, 2013 declined to a Net loss of $0.43 million for the 52 weeks period that ended on December 28, 2014.
On April 14, 2015, shares of BG Staffing Inc (NYSEMKT:BGSF) closed at $12.76 per share.