A class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of the common stock of Supervalu Inc. (NYSE: SVU) during the period from April 23, 2009 through June 23, 2009. The Complaint alleges that the Company disseminated unreasonable highly positive guidance for the Company's financial performance for fiscal 2010, in order to close a $1 billion note offering in May 2009. Indeed, positive guidance on April 23 generated such interest in the Company it was able to offer $500 million in new notes and almost immediately increased the offering to $1 billion. On May 7, 2009, the Company announced the completion of its $1 billion note offering, which was needed to retire existing outstanding indebtedness of the Company which was shortly coming due.

Then, after the refinancing was complete, on June 24, 2009, the Company revealed that first quarter 2010 earnings would be substantially below expectations, and that the previous fiscal 2010 guidance would be updated in light of an unexpectedly poor first quarter. As a result, Supervalu shares dropped almost 12% on very heavy trading volume.

If you are a current shareholder or purchased shares during the period of April 23, 2009 through June 23, 2009 and would like to discuss your options of exercising your rights as a shareholder, please contact us.
Please submit the following information so we can determine if you qualify for the suit. If you don't know all the specific details, partial information is also acceptable.