NEW YORK–(BUSINESS WIRE)–Faruqi & Faruqi, LLP, a leading national securities law firm, reminds
investors in Qurate Retail, Inc. (“Qurate” or the “Company”)
(NASDAQ: QRTEA) of the November 5, 2018 deadline to seek the role of
lead plaintiff in a federal securities class action that has been filed
against the Company.
If you invested in Qurate stock or options between August 5, 2015,
and September 7, 2016 and would like to discuss your legal rights, click
There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
The lawsuit has been filed in the U.S. District Court for the District
of Colorado on behalf of all those who purchased Qurate securities
between August 5, 2015 and September 7, 2016 (the “Class Period”). The
case, Bristol County Retirement System v. Qurate Retail Inc. et al,
No. 18-cv-02300 was filed on September 6, 2018 and has been assigned to
Judge Michael E. Hegarty.
The lawsuit focuses on whether the Company and its executives violated
federal securities laws by failing to disclose that: (1) the Company was
aggressively loosening the credit standards of its Easy-Pay program to
attract a large group of new customers; (2) the Company’s strong sales
growth was due to this loose credit policy; (3) accounts receivable
associated with this new group of customers posed a high risk of
write-off; and (4) as a result of the foregoing, the Company’s positive
statements about its business, operations, and prospects lacked a
Specifically, on September 8, 2016, during a Goldman Sachs Global
Retailing Conference in New York City, the Company finally disclosed the
true impact of the Easy Pay issues, revealing to investors that it
expects to see “higher default rates” associated with these sales.
Moreover, the Company warned that this negative trend, while improved,
would continue to impact its business.
After the announcement, Qurate’s share price fell from $21.46 per share
on September 7, 2016 to a closing price of $19.59 on September 8, 2016—a
$1.87 or 8.71% drop.
The court-appointed lead plaintiff is the investor with the largest
financial interest in the relief sought by the class who is adequate and
typical of class members who directs and oversees the litigation on
behalf of the putative class. Any member of the putative class may move
the Court to serve as lead plaintiff through counsel of their choice, or
may choose to do nothing and remain an absent class member. Your ability
to share in any recovery is not affected by the decision to serve as a
lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding
Qurate’s conduct to contact the firm, including whistleblowers, former
employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is
Faruqi & Faruqi, LLP (www.faruqilaw.com).
Prior results do not guarantee or predict a similar outcome with respect
to any future matter. We welcome the opportunity to discuss your
particular case. All communications will be treated in a confidential
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
York, NY 10017
Attn: Richard Gonnello, Esq.
(877) 247-4292 or (212) 983-9330