A lawsuit was filed on behalf of investors in Wayfair Inc. (NYSE: W) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/05/2019 -- The Shareholders Foundation announces that a lawsuit was filed for investor, who purchased shares of Wayfair Inc. (NYSE: W), fil over alleged violations of Federal Securities Laws by Wayfair Inc.
Investors who purchased shares of Wayfair Inc. (NYSE: W) have certain options and for certain investors are short and strict deadlines running. Deadline: March 11, 2019. NYSE: W investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On November 1, 2018, Wayfair Inc. announced its third quarter 2018 financial results. The Company reported a $151.7 million net loss for the quarter under Generally Accepted Accounting Principles ("GAAP"), or $1.69 a share, compared with a GAAP loss of $76.4 million, or 88 cents a share, for the third quarter 2017.
The plaintiff claims that between August 2, 2018 and October 31, 2018, the defendants made false and misleading statements and/or failed to disclose adverse information regarding Wayfair's business and prospects, including that Wayfair had been experiencing significantly diminished demand for its online product offerings and had significantly increased advertising spending to grow sales, and that as a result of defendants' allegedly false statements and/or omissions, the price of Wayfair stock was artificially inflated to more than $149 per share between August 2, 2018 and October 31, 2018, and that meanwhile, with the price of Wayfair common stock artificially inflated, certain of its senior executives and directors cashed in, selling more than $87.75 million worth of their personally held shares.
Those who purchased shares of Wayfair Inc. (NYSE: W) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.