FORT LAUDERDALE, Fla., March 22, 2017 /PRNewswire/ -- Attorney Advertising -- the law firm of Salpeter Gitkin, LLP announces that a shareholder class action has been filed against FTD Companies, Inc. (NASDAQ: FTD) ("FTD" or the "Company") on behalf of purchasers of the Company's securities between March 13, 2015 and March 14, 2017, inclusive (the "class period").
FTD provides floral and related gifts and products to consumers and retail florists primarily in the U.S., Canada, the U.K., and the Republic of Ireland. In December 2014, FTD announced the closing of a $430 million acquisition of "Provide Commerce," a floral and gifting business. The shareholder class action complaint alleges that FTD and certain of its executive officers made a series of materially false and misleading statements to investors during the Class Period. Specifically, the defendants are alleged to have made materially false and misleading statements and/or failed to disclose that: (i) FTD's financial statements contained errors relating to the assessment of cross-border indirect taxes; (ii) in turn, the Company lacked effective internal controls over financial reporting; and (iii) FTD had overstated the benefits of the Provide Commerce acquisition.
FTD shareholders may, no later than May 19, 2017, petition the Court to be appointed as a lead plaintiff of the class. A lead plaintiff is a representative party who acts on behalf of all class members in directing the litigation. In order to be a lead plaintiff, the Court must determine that the class member's claims are typical of the claims of other class members and that the class member will adequately represent the interests of the class.
Shareholders interested in learning more about the class action, or interested in becoming a lead plaintiff, should contact Salpeter Gitkin, LLP (Attn: James Gitkin) at 800-675-4128 or firstname.lastname@example.org or shareholders can complete the contact page at http://www.salpetergitkin.com/Contact.shtml.
Salpeter Gitkin, LLP is a civil litigation and transactional law firm handling cases throughout the United States. Its principal areas of practice include shareholder and consumer class actions, serious personal injury, complex commercial ligation, and real estate litigation and transactions. The firm is currently investigating and litigating various shareholder claims against major corporations. More information on the firm and its lawyers can be found at http://www.salpetergitkin.com/Business-Law/Shareholder-Derivative-Claims.shtml.
Salpeter Gitkin, LLP
Attn: James P. Gitkin, Esq.
1 E. Broward Boulevard
Fort Lauderdale, FL 33301
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SOURCE Salpeter Gitkin, LLP