EVINE Live Inc (NASDAQ:EVLV) Investor Investigation Over Potential Securities Laws Violations Announced

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Company Name(s): 
EVINE Live
Affected Securities: 
NASDAQ: EVLV

May 22, 2015 (Shareholders Foundation) - An investigation on behalf of investors of EVINE Live Inc (NASDAQ:EVLV) shares over potential securities laws violations by EVINE Live and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of EVINE Live Inc (NASDAQ:EVLV) concerning whether a series of statements by EVINE Live Inc regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Shares of EVINE Live Inc (NASDAQ:EVLV) grew from $4.42 per share in June 2014 to as high as $6.90 per share in January 2015.

On March 18, 2015, EVINE Live Inc reported its fourth quarter and fiscal 2014 results. EVINE Live Inc reported that its Total Revenue rose from $586.82 million for the 12 months period that ended on February 2, 2013 to $674.62 million for the 12 months period that ended on January 31, 2015 and that its respective Net Loss declined from $27.68 million to $1.38 million.

On May 20, 2015, EVINE Live Inc reported its first quarter results ended on May 2, 2015. EVINE Live Inc reported for its first quarter 2015 Net sales of $158 million, a 1% decrease year over year and that its first quarter Net Income of $0.5 million for the first quarter 2014 ended on May 3, 2014 declined to a first quarter Net Loss of $4.7 million for its first quarter 2015 ended on May 2, 2015. EVINE Live Inc also issued its 2015 outlook.

Shares of EVINE Live Inc (NASDAQ:EVLV) declined on May 20, 2015, to as low as $3.10 per share.