SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Wayfair, Inc.

Aug 31, 2015, 15:47 ET from Bronstein, Gewirtz & Grossman, LLC

NEW YORK, Aug. 31, 2015 /PRNewswire/ -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Wayfair, Inc. ("Wayfair" or the "Company") (NYSE: W -News).  Such investors are advised to contact Peretz Bronstein or his investor relations coordinator Eitan Kimelman at info@bgandg.com or 212-697-6484.

The investigation concerns whether Wayfair and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. 

On August 31, 2015, Citron Research published a report entitled "Wayfair is the Most Mispriced Stock Citron Research Has Seen in Years." The Citron report stated, in part, that: (1) Wayfair had deliberately refused to acknowledge Overstock as a competitor in its SEC filings, despite the similarities between the two companies, because "if they acknowledge Overstock as a comp, it becomes apparent to all that Wayfair's stock is not worth more than $10 a share"; and (2) Wayfair's CEO Niraj Shah described the company as profitable "for the first nine years of this business" in an August 13, 2015 interview, when the company, per its S-1 filing, had $190 million in cumulative losses before going public, "and the number has done nothing but escalate."

Following this news, shares of Wayfair fell $4.09 or 9.69% during intraday trading to trade at $38.13.

If you are aware of any facts relating to this investigation, or purchased shares of Wayfair, you can assist this investigation by contacting Peretz Bronstein or his Investor Relations Coordinator Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email info@bgandg.com.  Those who inquire by e-mail are encouraged to include their mailing address, email and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Eitan Kimelman 212-697-6484 info@bgandg.com

 

SOURCE Bronstein, Gewirtz & Grossman, LLC



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