BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of purchasers of the securities of Swisher Hygiene Inc. (“SWISHER” or the “Company”) (NASDAQ: SWSH) concerning possible violations of federal securities laws. The investigation focuses on allegations that certain statements issued by the Company between May 16, 2011 and March 28, 2012, regarding SWISHER’s business, operations and financial condition were false and misleading.
SWISHER provides hygiene and sanitation solutions in North America and internationally. The investigation relates to the Company’s March 28, 2012, announcement that its first, second and third quarter financial results for 2011 should no longer be relied upon and may have to be restated, as a result of an ongoing internal review being conducted by the Company’s Audit Committee relating to possible adjustments to (1) the accounting for business acquisitions, and (2) the calculation of the allowance of doubtful accounts receivable. On this news, shares of SWISHER declined $0.29 per share, nearly 10%, to close on March 28, 2012, at $2.76 per share, on unusually heavy volume.
If you purchased SWISHER securities between May 16, 2011 and March 28, 2012, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.