Notice is hereby given that a class action lawsuit has been filed on behalf of those who purchased or otherwise acquired shares of Wayfair Inc. (NYSE: W) (“Wayfair”) between October 2, 2014 through August 31, 2015, inclusive (the “Class Period”).
Wayfair Inc. investors may receive additional information about the case by clicking the link "Join this Class Action" above.
According to the complaint, Wayfair is one of the world’s largest online shopping sites for home furnishings and decor. Through its e-commerce business model, the Company offers over seven million products.
The complaint alleges that, throughout the Class Period, Wayfair and certain of its executive officers issued a series of materially false and misleading statements to investors and/or failed to disclose to investors that Overstock.com is a competitor.
On August 31, 2015, analyst firm Citron Research published a report on Wayfair asserting, among other things, that Wayfair had failed to mention Overstock.com as a competitor in its SEC filings despite significant similarities between the two companies.
Following this news, shares of Wayfair’s stock fell $4.92 per share, or over 11.6%, to close on August 31, 2015 at $37.30 per share.
Wayfair shareholders who purchased their securities between October 2, 2014 and August 31, 2015 may, no later than November 2, 2015, petition the Court for appointment as a 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. 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.
Kessler Topaz Meltzer & Check, LLP
James Maro, Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
1-888-299-7706 (toll free) or 1-610-667-7706