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Investor Class Action Filed Against Qurate Retail, Inc. for Securities Fraud Violations

Notice is hereby given that a class action lawsuit has been filed on behalf of  those who purchased or otherwise acquired Qurate Retail, Inc. ("Qurate") (Nasdaq:  QRTEA and QRTEB) securities between August 5, 2015 and September 7, 2016, inclusive (the "Class Period").

Qurate investors may receive additional information about the case by clicking the link "Submit Your Information" above.

According to the complaint, Qurate markets and sells various consumer products primarily through live merchandise-focused televised shopping programs, websites, and mobile applications. QVC, Inc. (“QVC”) is Qurate’s largest segment, accounting for roughly 85 percent of Qurate’s total revenue in 2016. As a promotional tool used to spur sales, QVC offers a payment plan called Easy-Pay to its customers in the U.S., U.K., Germany and Italy. Easy-Pay allows QVC customers to pay for certain merchandise in two or more monthly installments. Qurate is exposed to the credit risk on the Easy-Pay receivables. Specifically, if the QVC customer does not remit payment for the subsequent Easy-Pay installments, Qurate is required to record a loss and write off the Easy-Pay receivable.
 
The complaint alleges that on August 5, 2016, Qurate issued a press release announcing financial results for the second quarter ended June 30, 2016, in which Qurate disclosed “significant headwinds” and sales declines as compared to prior periods. Later that day, during Qurate’s Second Quarter 2016 Earnings Call, Qurate disclosed “higher than expected write-offs on Easy-Pay purchases from October and November of last year” and announced increased reserves for prior period purchases. Following this news, Qurate’s stock price fell $5.69 per share, or 21.63 percent, to close on August 5, 2016 at $20.61 per share.

Then, on September 8, 2016, during a Goldman Sachs Global Retailing Conference in New York City, Qurate finally disclosed the true impact of the Easy-Pay issues, revealing to investors that it expects to see “higher default rates” associated with these sales. Moreover, Qurate warned that this negative trend, while improved, would still, continue to impact its business. Following this news, Qurate’s stock price fell $1.87 per share, or 8.71 percent, to close on September 8, 2016 at $19.59 per share.

The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that:  (1) Qurate was aggressively loosening the credit standards of its Easy-Pay program to attract a large group of new customers; (2) Qurate’s strong sales growth was due to this loose credit policy; (3) accounts receivable associated with this new group of customers posed a high risk of write-off; and (4) as a result of the foregoing, Qurate’s positive statements about its business, operations, and prospects lacked a reasonable basis.

If you are a member of the class described above, you may no later than November 5, 2018 move the Court to serve as lead plaintiff of the class, if you so choose.

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.  Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an inactive class member.

Kessler Topaz Meltzer & Check, LLP has not filed a complaint in this matter.  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, LLP toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.

CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq. or Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706
Or by e-mail at info@ktmc.com

Please complete this form relating to your transactions for Qurate Retail, Inc. (Nasdaq:  QRTEA and QRTEB) securities between August 5, 2015 and September 7, 2016, inclusive (the "Class Period").

Once completed, please click the orange "Submit Your Information" button at the bottom of this page. You may also contact James Maro, Jr., Esq. or Adrienne Bell, Esq. at 610.667.7706 or toll free at 888.299.7706, or you may submit your information via email at info@ktmc.com.

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# of Shares
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# of Contracts
Price per Contract
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Did you purchase shares of Qurate Retail, Inc. prior to the Class Period?
Are you a current or former employee of Qurate Retail, Inc.?
The submission of this form does not create an attorney-client relationship, nor an obligation on the part of Kessler Topaz or you to file a lead plaintiff motion in this matter. Any information you submit will be maintained as confidential. If Kessler Topaz, in its sole discretion, believes that you might be an appropriate lead plaintiff candidate, Kessler Topaz will contact you to discuss the matter and whether to establish an attorney client relationship. By signing this form you are authorizing us to contact you regarding this case and/or future cases.
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