June 05, 2010 14:39 ET

Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Vitacost.com, Inc. to Inquire About the Lead Plaintiff Position in Securities Fraud Class Action Lawsuit Before the July 23, 2010 Lead Plaintiff Deadline

STEVENSON, MD--(Marketwire - June 5, 2010) -  Brower Piven, A Professional Corporation announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of Florida on behalf of purchasers of the common stock of Vitacost.com, Inc. ("Vitacost" or the "Company") (NYSE: VITC) pursuant and/or traceable to the Company's Initial Public Offering commencing on or about September 24, 2009 (the "IPO") and on behalf of purchasers of the Company's common stock between September 24, 2009 and April 20, 2010, inclusive (the "Class Period").

No class has yet been certified in the above action. Members of the Class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. If you wish to choose counsel to represent you and the Class, you must apply to be appointed lead plaintiff no later than July 23, 2010 and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement and how much of a settlement to accept for the Class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You are not required to have sold your shares to seek damages or to serve as a Lead Plaintiff. You may contact Brower Piven (through hoffman@browerpiven.com or 410/415-6616) to answer any questions you may have in that regard. 

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 and the Securities Act of 1933 by virtue of the Company's failure to disclose during the Class Period and/or in the offering documents (registration statement and prospectus) for its initial public offering on or about September 24, 2009, that the Company was starting a product-mix shift away from the high-margin proprietary products yet inflated demand for its proprietary products by pushing out excess product to customers so that it could mask declining demand; that the Company was knowingly experiencing logistical issues at its own plants, lacking adequate oversight processes and procedures and utilizing ineffective operations software; that the Company lacked adequate internal and financial controls; and that as a result of the foregoing, the Company's financial results were materially inflated at all relevant times. According to the complaint, after, on April 20, 2010, the Company announced updated guidance for revenue for the quarter ending March 31, 2010 and for the full year 2010, the value of Vitacost.com stock declined significantly.

If you have suffered a net loss for all transactions in Vitacost.com, Inc. common stock during the Class Period, you may obtain additional information about this lawsuit and your ability to become a lead plaintiff by contacting Brower Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and class action cases of over 40 years. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.