LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the October 16, 2017 deadline in the class action lawsuit filed on behalf of investors that purchased the common stock of Blue Apron Holdings, Inc. (“Blue Apron” or the “Company”) (NYSE: APRN) pursuant to the Registration Statement issued in connection with the Company’s initial public offering (“IPO”). Blue Apron investors have until October 16, 2017 to file a lead plaintiff motion. To obtain information or participate in the class action, please visit the Blue Apron case page on our website at www.glancylaw.com/case/blue-apron-holdings-inc.
The complaint filed in this class action alleges that Blue Apron violated the Securities Act because the Registration Statement failed to disclose that: (1) rather than continuing to significantly increase spending on advertising, Blue Apron had already decided to significantly reduce spending on advertising in Q2 2017, which would hurt sales and profit margins in future quarters; (2) Blue Apron was already experiencing adverse on-time in-full rates, meaning orders were not arriving on time or with all the ingredients needed, which was hurting customer retention; and (3) the Company ran into delays in Q2 2017 with its new factory in Linden, New Jersey.
Following the IPO, Blue Apron’s stock price fell to lows of $5 per share, a decline of 50% from the IPO price.
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If you purchased shares of Blue Apron during the Class Period you may move the Court no later than October 16, 2017 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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