RADNOR, Pa., Oct. 27, 2015 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP reminds Wayfair Inc. ("Wayfair" or the "Company") shareholders that a class action lawsuit has been filed against the Company on behalf of purchasers of the Company's securities between October 2, 2014 and August 31, 2015, inclusive (the "Class Period").
Wayfair shareholders who purchased their securities during the Class Period are reminded that they may, no later than November 2, 2015, petition the Court for appointment as a lead plaintiff of the class.
Wayfair shareholders who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 – 7706 or at [email protected]. For additional information about this lawsuit, or to request information about this action online, please visit http://www.ktmc.com/new-cases/wayfair-inc.
Wayfair is one of the world's largest online shopping sites for home furnishings and decor. Through its e-commerce business model, the Company offers over seven million products. The complaint alleges that, throughout the Class Period, Wayfair and certain of its executive officers issued a series of materially false and misleading statements to investors and/or failed to disclose to investors that Overstock.com is a competitor.
On August 31, 2015, analyst firm Citron Research published a report on Wayfair asserting, among other things, that Wayfair had failed to mention Overstock.com as a competitor in its SEC filings despite significant similarities between the two companies.
Following this news, shares of Wayfair's stock fell $4.92 per share, or over 11.6%, to close on August 31, 2015 at $37.30 per share.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne O. Bell, Esq.) at (888) 299 – 7706 or (610) 667 – 7706, or via e-mail at [email protected]
Wayfair shareholders who purchased their securities during the Class Period are reminded that they may, no later than November 2, 2015, 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 other class members in directing the litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers (private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check, or for additional information about participating in this action, please visit www.ktmc.com.
Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne O. Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299 - 7706
(610) 667 - 7706
SOURCE Kessler Topaz Meltzer & Check, LLP