Farfetch Limited (NYSE: FTCH) Investor Securities Class Action Lawsuit 09/17/2019

If you purchased shares of Farfetch Limited (NYSE: FTCH), you have certain options and for certain investors are short and strict deadlines running. Deadline: November 18, 2019. NYSE: FTCH investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Farfetch
Case Name: 
Farfetch Shareholder Class Action Lawsuit 09/17/2019
Case Status: 
Lawsuit Filed
Affected Securities
NYSE: FTCH
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
09/17/2019
Court of Filing: 
U.S. District Court for the Southern District of New York
Deadline To File for Lead: 
11/18/2019
Summary: 

An investor in shares of Farfetch Limited (NYSE: FTCH) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Farfetch Limited in connection with certain allegedly false and misleading statements made issued in connection with the Company’s September 2018 initial public offering (“IPO”)

London based Farfetch Limited, through its subsidiary, Farfetch.com Limited, provides an online marketplace for luxury goods in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. On August 8, 2019, Farfetch Limited reported second quarter losses that were larger than expected as well as the resignation of its COO in 2020.

Shares of Farfetch Limited (NYSE: FTCH) declined to as low as $9.22 per share on August 9, 2019.

According to the complaint the plaintiff alleges , that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the defendants failed to disclose to investors, that large scale online wholesale was reasonably likely to lead to pricing volatility and heavy promotions of luxury goods, that the Company’s core business was vulnerable to such pricing pressures, that the Company would aggressively pursue acquisitions to remain profitable, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.