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NEW ORLEANS, — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until March 11, 2019 to file lead plaintiff applications in a securities class action lawsuit against Wayfair Inc. (NYSE:W), if they purchased the Company’s Class A shares between August 2, 2018 and October 31, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Massachusetts.
What You May Do
If you purchased shares of Wayfair and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-w/to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by March 11, 2019.
About the Lawsuit
Wayfair and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 1, 2018, pre-market, the Company disclosed shocking financial results for Q3 2018 including a staggering GAAP net loss of $151.7 million (compared to loss of $76.4 million in Q3 2017), and a 43% increase in advertising expenses of more than $202.5 million.
On this news, the price of Wayfair’s shares plummeted more than $14 per share, or nearly 13%, to close at $96.16 per share on November 1, 2018.
The case is Goodstein v. Wayfair Inc., et al., No. 19-cv-10062.
About Kahn Swick & Foti, LLC
KSF, whose partners include the former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.