WAYNE, Pa., May 29, 2015 /PRNewswire/ -- Ryan & Maniskas, LLP that a class action lawsuit has been filed in United States District Court for the Eastern District of New York on behalf of all persons or entities that purchased the common stock of Etsy, Inc. ("Etsy" or the "Company") (NASDAQ: ETSY) between April 16, 2015 and May 10, 2015, inclusive (the "Class Period").
Etsy shareholders may, no later than July 13, 2015, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Etsy and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/etsy.
Etsy and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
These false statements and omissions included, in part, that: (i) more than 5% of all merchandise for sale on Etsy's website were counterfeit or constituted trademark or copyright infringement; and (ii) brands are increasingly pursuing sellers on Etsy's platform for trademark or copyright infringement, jeopardizing the Company's listing fees and commissions.
After the lawsuit was filed, on May 19, 2015, Etsy reported its first quarter financial results, revealing that it suffered a net loss of 84 cents per share, when analysts had expected the Company to break even. On this news, the price of Etsy's shares plummeted.
If you are a member of the class, you may, no later than July 13, 2015, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed 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. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information regarding this, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at email@example.com or visit: www.rmclasslaw.com/cases/etsy. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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