LOS ANGELES–(BUSINESS WIRE)–$QRTEA #CLASSACTION—Glancy
Prongay & Murray LLP (“GPM”) announces that it has commenced 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.
If you are a shareholder who suffered a loss, click here
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, the Company’s subsidiary, 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.
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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 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 firstname.lastname@example.org,
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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jurisdictions under the applicable law and ethical rules.