NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Wayfair Inc. (NYSE:W) resulting from allegations that Wayfair may have issued materially misleading business information to the investing public.
On August 31, 2015, Citron Research published a report on Wayfair asserting, among other things, that: (1) Wayfair deliberately refused to acknowledge Overstock as a competitor in its SEC filings, despite similarities between the two companies; and (2) Wayfair's CEO Niraj Shah stated in an August 13, 2015 interview that Wayfair was profitable "for the first nine years of this business" even though Wayfair’s S-1 filing indicates that it had $190 million in cumulative losses before going public. On this news, shares of Wayfair fell $4.92 per share or over 11% to close at $37.30 per share on August 31, 2015, damaging investors.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Wayfair investors. If you purchased shares of Wayfair on or before August 31, 2015, please visit the firm’s website at http://rosenlegal.com/cases-709.html for more information. You may also contact Phillip Kim, Esq. or Kevin Chan, Esq. of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.
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