NEW YORK, NY / ACCESSWIRE / October 13, 2023 / Pomerantz LLP is investigating claims on behalf of investors of Farfetch Limited ("Farfetch" or the "Company") (NYSE:FTCH). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.comor 888-476-6529, ext. 7980.
The investigation concerns whether Farfetch and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On August 17, 2023, Farfetch issued a press release announcing its financial results for the second quarter of 2023. Among other items, Farfetch reported revenue of $572 million, significantly less than the expected $650.71 million. Farfetch also issued a full-year revenue forecast of approximately $2.5 billion, compared to the average analyst estimate of $2.8 billion.
On this news, Farfetch's stock price fell $2.15 per share, or 45.17%, to close at $2.61 per share on August 18, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
SOURCE: Pomerantz LLP
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