If you suffered losses in Farfetch stock, contact Farfetch stock loss lawyer Timothy L. Miles about a Farfetch class action lawsuit
introduction to the FARFETCH CLASS ACTION LAWSUIT
The Farfetch class action lawsuit seeks to represent purchasers or acquirers of Farfetch Limited (NYSE: FTCH) securities between March 9, 2023 and August 17, 2023, both dates inclusive (the “Class Period”). Captioned Ragan v. Farfetch Limited, No. 23-cv-02857 (D. Md.), the Farfetch class action lawsuit charges Farfetch and certain of its top current executive officers with violations of the Securities Exchange Act of 1934.
If you suffered losses in Farfetch stock and wish to serve as lead plaintiff in the Farfetch class action lawsuit, please contact Farfetch Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form. Lead plaintiff motions for the Farfetch class action lawsuit must be filed with the court no later than December 19, 2023.
the ALLEGATIONS IN THE FARFETCH CLASS ACTION LAWSUIT
Farfetch, together with its subsidiaries, operates a global platform for the luxury fashion industry.
The Farfetch class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) Farfetch was experiencing a significant slowdown in growth in the United States and China; (ii) Farfetch also faced onboarding challenges impacting the launch of its Reebok International Limited partnership; (iii) Farfetch downplayed challenges it faced with respect to, and/or overstated its ability to manage, its supply chain and inventory; (iv) all of the above was having a significant negative impact on Farfetch’s revenue and gross merchandise value (“GMV”) growth; and (v) as a result, Farfetch was unlikely to meet market expectations for its second quarter 2023 financial results or its own fiscal year 2023 revenue guidance.
The Farfetch class action lawsuit further alleges that on August 17, 2023, Farfetch reported second quarter 2023 revenue of approximately $572 million, significantly less than the market consensus of $650.71 million. According to the complaint, Farfetch also issued a fiscal year 2023 revenue forecast of approximately $2.5 billion, compared to the average analyst estimate of $2.8 billion and Farfetch’s prior fiscal year 2023 revenue forecast of $2.9 billion. Farfetch further disclosed that significant slowdowns in the United States and China, onboarding challenges affecting the launch of the Reebok partnership, and issues with inventory and shipping had negatively impacted Farfetch’s revenue and GMV for the quarter, the complaint further alleges. The Farfetch class action lawsuit alleges that following these developments, the price of Farfetch stock decline more than 45%.
THE LEAD PLAINTIFF PROCESS IN THE FARFETCH CLASS ACTION LAWSUIT
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in Farfetch stock to seek appointment as lead plaintiff in the Farfetch class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class.
A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit. An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in Farfetch stock and have further questions, contact Farfetch stock loss Lawyer Timothy L. Miles today who will fight to recover your damages in a Farfetch class action lawsuit if you suffered losses in Farfetch stock.
NON-U.S. INVESTORs SERVing AS LEAD PLAINTIFF IN THE FARFETCH CLASS ACTION LAWSUIT
Courts in the U.S. have consistently recognized that non-U.S. investors, many of whom have substantial holdings, are adequate lead plaintiffs and have the same right to move for lead plaintiffs as U.S. investors. Thus, if a non-U.S. investor suffered losses in Farfetch stock, they may move the Court to be appointed lead plaintiff in the Farfetch class action lawsuit.
THE BENEFITS OF SERVING AS LEAD PLAINTIFF IN THE FARFETCH CLASS ACTION LAWSUIT
Serving as a Lead Plaintiff in the Farfetch class action lawsuit has several advantages and important benefits including:
Thus, there are numerous benefits and other advantages to serving as lead plaintiff in a class action against Farfetch if you suffered losses in Farfetch stock.
SHARES PURCHASED OUTSIDE OF THE CLASS PERIOD IN THE FARFETCH CLASS ACTION LAWSUIT
Even if you suffered losses in Farfetch stock, if you purchased securities outside of the Class period, you will not be able to participate in the Farfetch class action lawsuit.
payment to LEAD PLAINTIFFS in the FARFETCH CLASS ACTION LAWSUIT
The lead plaintiffs may be entitled to recover their reasonable expenses incurred which are directly related to representing the class in the Farfetch class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class. However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the Farfetch class action lawsuit on behalf of investors who suffered losses in Farfetch stock.
appointing MORE THAN ONE LEAD PLAINTIFF IN THE FARFETCH CLASS ACTION LAWSUIT
At its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the Farfetch class action lawsuit.
Determination of THE CLASS PERIOd IN THE FARFETCH CLASS ACTION LAWSUIT
In a securities fraud class action, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives. The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading. The class period ends when the truth is revealed to the investing public through a corrective disclosure.
In order to be a part of the class in the Farfetch class action lawsuit, you must have suffered losses in Farfetch stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against Farfetch.
HOW to KNOW IF you are a MEMBER OF THE CLASS IN THE FARFETCH CLASS ACTION LAWSUIT
If you purchased shares during the class period and suffered losses in Farfetch stock, then you are most likely a member of the class in the Farfetch class action lawsuit and may participate in the Farfetch class action lawsuit since you suffered losses in Farfetch stock.
HOW MUCH you CAN GET OUT OF THE FARFETCH CLASS ACTION LAWSUIT
In a securities fraud class action lawsuit, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in Farfetch stock. Contact a Farfetch stock loss lawyer who could explain your losses in greater detail if you suffered losses in Farfetch stock.
WHEN you CAN EXPECT TO RECEIVE PAYMENT IF THE FARFETCH CLASS ACTION LAWSUIT SETTLES
If there is a settlement in the Farfetch class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold Farfetch stock during the class period and suffered losses in Farfetch stock.
The court will hold a final hearing in the Farfetch class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the Farfetch lawsuit.
CONTACT AN FARFETCH STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN FARFETCH STOCK ABOUT A FARFETCH CLASS ACTION LAWSUIT
If you suffered losses in Farfetch stock, contact Farfetch stock loss lawyer Timothy L. Miles today for a free case evaluation about a Farfetch class action lawsuit. Call today and see what a Farfetch stock loss lawyer could do for you if you suffered losses in Farfetchstock.
Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles’ relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association,Class Action: Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM (2019-2022); America’s Most Honored Lawyers 2020 – Top 1% by America’s Most Honored (2020-2022). Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more. Please visit our website or call for free anytime.
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: [email protected]
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