Shareholder Class Action Filed Against Blue Apron Holdings, Inc. - APRN
21 Aug, 2017, 14:02 ET
RADNOR, Pa., Aug. 21, 2017 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP announces that a shareholder class action lawsuit has been filed against Blue Apron Holdings, Inc. (NYSE: APRN) ("Blue Apron" or the "Company) on behalf of purchasers of the Company's common stock issued pursuant and/or traceable to the Company's initial public offering on or about June 29, 2017 (the "IPO").
Investors who purchased Blue Apron common stock pursuant or traceable to the IPO Offering Materials may, no later than October 16, 2017, petition the Court to be appointed as a lead plaintiff representative of the class. For additional information please visit https://www.ktmc.com/new-cases/blue-apron-holdings-inc#join.
Blue Apron investors who wish to discuss their legal rights or interests with respect to this action are encouraged to contact Kessler Topaz Meltzer & Check (Darren J. Check, Esq., D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (888) 299 – 7706 or (610) 667–7706, or via e-mail at [email protected]
Blue Apron is an ingredient-and-recipe meal kit service company. Blue Apron also sells wine, kitchen tools and staples that are used in their test kitchens where new recipes are created.
On or about June 29, 2017, Blue Apron completed its IPO, selling 30 million shares to investors at $10.00 per share. After deducting underwriting fees of $16.5 million, the Company generated $283,500,000 in proceeds, before expenses.
The complaint alleges that on August 10, 2017, Blue Apron shocked the stock market by announcing significant undisclosed problems, lowering its guidance for the second half of 2017, and stating that it planned to change its strategic approach for managing the business for the remainder of 2017. Following this news, Blue Apron's stock closed on August 10. 201 7 at $5.14, almost half of its IPO price of $10.
Blue Apron shareholders may, no later than October 16, 2017, petition the Court to be appointed as a lead plaintiff representative of the class through Kessler Topaz Meltzer & Check, or other counsel, or may choose to do nothing and remain an absent class member. A lead plaintiff is a representative party who acts on behalf of all 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.
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
Kessler Topaz Meltzer & Check, LLP
Darren J. Check, Esq.
D. Seamus Kaskela, Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
SOURCE Kessler Topaz Meltzer & Check, LLP
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