An investigation on behalf of investors in Purple Innovation, Inc. (NASDAQ:PRPL) shares over potential wrongdoing at Purple Innovation, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 02/15/2022 -- Investors who purchased shares of Purple Innovation, Inc. (NASDAQ: PRPL) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain Purple Innovation, Inc. (NASDAQ: PRPL officers and directors breached their fiduciary duties and caused damage to the company and its shareholders.
Lehi, UT based Purple Innovation, Inc. designs and manufactures mattresses, pillows, and cushions. Purple Innovation, Inc. reported that its annual Total Revenue rose from $428.35 million in 2019 to $648.47 million in 2020, and that its Net Loss of $4.027 million in 2019 turned into a Net Income of $3.78 million in 2020.
On November 9, 2021, Purple Innovation, Inc announced disappointing third quarter earnings "largely driven by impacts from our manufacturing backlog that were longer-lasting than we anticipated. Our lack of inventory impacted sales through all of our channels which are deeply interconnected."
Shares of Purple Innovation, Inc. (NASDAQ: PRPL) declined from $20.33 per share on November 3, 2021, to $13.26 per share on November 12, 2021.
Those who purchased shares of Purple Innovation, Inc. (NASDAQ: PRPL) have certain options and should contact the Shareholders Foundation.
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