IRVINE, Calif., Aug. 25, 2017 /PRNewswire/ -- Khang & Khang LLP (the "Firm") announces the filing of a securities class action lawsuit against Blue Apron Holdings, Inc. ("Blue Apron" or the "Company") (NYSE: APRN). Investors who purchased or otherwise acquired shares in connection with the June 29, 2017 initial public offering (the "IPO"), are encouraged to contact the Firm in advance of the October 16, 2017 lead plaintiff motion deadline.
If you purchased Blue Apron shares pursuant or traceable to the IPO, please contact Joon M. Khang, Esq., of Khang & Khang LLP, 4000 Barranca Parkway, Suite 250, Irvine, CA 92604, by telephone: (949) 419-3834, or by e-mail at [email protected].
There has been no class certification in this case yet. Until certification occurs, you are not represented by an attorney. You may choose to take no action and remain a passive class member as well.
According to the Complaint, the Registration Statement filed in connection with the IPO failed to disclose that: Blue Apron decided to significantly reduce spending on advertising in Q2 2017, hurting sales and profit margins in future quarters; that the Company was experiencing difficulty with customer retention due to orders not arriving on time or with all expected ingredients; and that the Company was experiencing delayed orders in Q2 2017 related to its new factory in Linden, New Jersey. Since the IPO, Blue Apron's stock price has declined materially, which caused investors harm according to the Complaint.
If you wish to learn more about this lawsuit, or if you have any questions concerning this notice or your rights, please contact Joon M. Khang, Esq., a prominent litigator for almost two decades, by telephone at (949) 419-3834, or by e-mail at [email protected].
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Joon M. Khang, Esq.
SOURCE Khang & Khang LLP