BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Qurate Retail, Inc. (“Qurate” or the “Company) (NASDAQ: QRTEA) investors concerning the Company and its officers’ possible violations of federal securities laws.
The investigation concerns whether Qurate misled investors regarding its financial performance for the period ended June 30, 2016, specifically the performance of the Company’s rising bad debt expenses. On August 5, 2016, Qurate issued a press release announcing financial results for the second quarter ended June 30, 2016, and disclosed "significant headwinds" and sales declines at QVC as compared to prior periods. Later that day, Qurate then 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 and a decision to moderate Easy-Pay usage. On this news, Qurate shares fell $5.69, or over 21%, to close at $20.61 on August 5, 2016, thereby injuring investors.
If you purchased Qurate securities, have information or 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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