NEW YORK, March 20, 2017 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at FTD Companies Inc. ("FTD" or the "Company") (NYSE: FTD).
The investigation focuses on whether the Company and its executives violated federal securities laws by failing to maintain appropriate internal accounting controls.
Specifically, during post-market hours on March 14, 2017, FTD announced financial and operating results for the quarter and year ended December 31, 2016. The Company stated, in part, that the Company's net loss for the quarter was "primarily due to goodwill impairment charges related to the Provide Commerce segment of $84.0 million." FTD also stated that, due to identified errors, the Company will restate previously reported consolidated financial statements for the years ended December 31, 2015 and 2014 and for the quarters in the years ended December 31, 2015 and 2016. After the announcement, the Company's stock price declined, causing damage to investors.
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If you invested in FTD stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/FTD. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding FTD's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
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Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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