The Shareholders Foundation announces that an investor in shares of Etsy Inc (NASDAQ:ETSY) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Etsy Inc in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Etsy Inc (NASDAQ:ETSY) have certain options and for certain investors are short and strict deadlines running. Deadline: July 13, 2015. NASDAQ:ETSY investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of purchasers of Etsy Inc (NASDAQ:ETSY) common shares between April 16, 2015 and May 10, 2015, that the defendants violated Federal Securities Laws.
More specifically, the plaintiff claims that between April 16, 2015 and May 10, 2015defendants made false and/or misleading statements and/or failed to disclose thatmore than 5% of all merchandise for sale on Etsy’s website were either counterfeit or constituted trademark or copyright infringement, that Brands are increasingly pursuing sellers on Etsy’s platform for trademark or copyright infringement, jeopardizing the Company’s listing fees and commissions, and that as a result of the foregoing, Etsy’s public statements were materially false and misleading at all relevant times.
On May 11, 2015 a report was published that alleged that Etsy Inc may have counterfeit and infringement problems that eclipse those of other e-commerce giants. Specifically, an analyst report concluded that as many as 2 million items on Etsy may potentially be either counterfeit or constitute trademark or copyright infringement.
Shares of Etsy Inc (NASDAQ:ETSY) declined on June 19, 2015, to as low as $14.31 per share.
Those who purchased shares of Etsy Inc (NASDAQ:ETSY) have certain options and should contact the Shareholders Foundation.
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