NEW ORLEANS, April 28, 2017 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 19, 2017 to file lead plaintiff applications in a securities class action lawsuit against FTD Companies, Inc. (NasdaqGS: FTD), if they purchased the Company's securities between March 13, 2015 and March 14, 2017, inclusive (the "Class Period"). This action is pending in the United States District Court for the Northern District of Illinois.
What You May Do
If you purchased securities of FTD 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, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]). If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 19, 2017.
About the Lawsuit
FTD and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 14, 2017, FTD revealed disappointing financial results for the quarter and year ended December 31, 2016. FTD disclosed that its losses were primarily due to $84 million goodwill impairment charges concerning its Provide Commerce segment. FTD further announced that it had identified errors regarding "the assessment of cross-border indirect taxes" and, as a result, it will restate its financial statements for the years ended December 31, 2014 and 2015 and for the quarters in the years ended December 31, 2015 and 2016.
On this news, the price of FTD's shares plummeted.
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.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
206 Covington St.
Madisonville, LA 70447
SOURCE Kahn Swick & Foti, LLC