When online vitamin retailer Vitacost went public, then-chief executive officer Ira Kerker bragged about the 15-year-old Boca Raton-based company’s success.
But less than 15 months after a $132 million initial public offering, Vitacost is in upheaval. The company has acknowledged that financial statements dating back to 1994 are questionable. It’s fighting an investor class action law suit. And trading in it’s stock — which has tumbled from its IPO price of $12 per share to $5.70 — has been halted by Nasdaq and soon it could be delisted from the stock market.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
