SAN DIEGO, March 19, 2019 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in : W shares against Wayfair Inc.
Investors, who purchased shares of Wayfair Inc. (: W), have certain options and should contact the Shareholders Foundation at [email protected] 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.
On January 10, 2019, a lawsuit was filed against Wayfair Inc over alleged securities laws violations. The plaintiff alleges that 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 Wayfair Inc. (: W) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
