NEW YORK, Aug. 10, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at RadioShack Corporation ("RadioShack" or the "Company") (NYSE: RSH).
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The investigation focuses on whether RadioShack and its executives issued materially false and misleading statements regarding the Company's business and financial condition. RadioShack executives claimed that they were successfully executing a strategic shift whereby RadioShack was transitioning from a seller of consumer electronics to a reseller of wireless products. Company executives repeatedly emphasized returning value to shareholders by funding RadioShack's stock repurchase program and investor dividends.
On July 25, 2012, the Company reported a net loss of $21 million for its second quarter earnings and suspended its dividends. As a result of this announcement, RadioShack shares fell almost 35% to close at $2.60 per share on July 25, 2012.
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If you purchased RadioShack securities between July 26, 2011 and July 24, 2012 and would like to discuss your legal rights, visit www.faruqilaw.com/RSH. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding RadioShack's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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