NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Blue Apron Holdings, Inc. (NYSE:APRN) securities traceable to the Company’s initial public offering (“IPO”). Investors have until October 16, 2017 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The Complaint alleges that Blue Apron’s Registration Statement in connection with the IPO failed to disclose that: (1) Blue Apron had decided to significantly reduce spending on advertising in Q2 2017, hurting sales and profit margins in future quarters; (2) Blue Apron was experiencing difficulty with customer retention due to orders not arriving on time or with all expected ingredients; and (3) the Company was experiencing delayed orders in Q2 2017 related to its new factory in Linden, New Jersey.
Since the IPO, Blue Apron shares have fallen $4.70, or 47%, to close at $5.30 per share on August 18, 2017.
If you purchased or otherwise acquired Blue Apron securities traceable to the IPO and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at firstname.lastname@example.org, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the Blue Apron lawsuit, please go to www.bespc.com/aprn. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com.