NEW YORK, Aug. 22, 2017 /PRNewswire/ -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national shareholder and consumer rights litigation firm, announces that two securities class action lawsuits have been filed against Blue Apron Holdings Inc. ("Blue Apron" or the "Company") (NYSE: APRN), related to violations of federal securities laws in connection with its June 29, 2017 Initial Public Offering ("IPO"). If you are a Blue Apron shareholder who bought in the IPO, you are encouraged to contact Scott+Scott for additional information.
Blue Apron is a holding company focused on providing recipes and ingredients for making home cooking accessible. The Company held its IPO on June 29, 2017, selling its stock for $10 per share.
According to the lawsuits, in connection with its IPO, Blue Apron submitted a registration statement with the U.S. Securities and Exchange Commission emphasizing that the company aimed to invest in marketing to drive customer acquisition and planned to introduce new products to increase the company's sales and profits. However, the complaints allege that Blue Apron's registration statement was misleading by neglecting to disclose that (1) the Company had already decided to reduce spending on advertising; (2) the Company's orders were not arriving on time or with all the ingredients needed; and (3) the Company had encountered delays with its new factory in Linden, New Jersey.
Since the IPO, Blue Apron's stock has declined over 47%. As of market close on August 21, 2017, the price was $5.24.
What You Can Do
If you purchased or acquired Blue Apron shares in or traceable to the IPO and you wish to discuss the lawsuits, or have questions about this notice or your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982 or at [email protected]. The deadline to move for Lead Plaintiff status is October 16, 2017.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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