If you suffered losses in Farfetch stock, contact Farfetch stock loss lawyer Timothy L. Miles about a Farfetch class action lawsuit
overview of THE FARFETCH CLASS ACTION LAWSUIT
The Farfetch class action lawsuit aims to represent individuals or entities who purchased or acquired securities of Farfetch Limited (NYSE: FTCH) between March 9, 2023, and August 17, 2023, encompassing both of these dates (referred to as the "Class Period"). Captioned Ragan v. Farfetch Limited, No. 23-cv-02857 (D. Md.), the Farfetch class action lawsuit alleges that the company and certain high-ranking current executives violated the Securities Exchange Act of 1934.
If you suffered losses in Farfetch stock and wish to take on the role of lead plaintiff in the Farfetch class action lawsuit, we urge you to get in touch with Farfetch Stock Loss Lawyer Timothy L. Miles. You can reach him by calling 855/846-6529, sending an email to [email protected], or filling out a contact form. Remember, the deadline for filing lead plaintiff motions for the Farfetch class action lawsuit is December 19, 2023.
Continue reading this Farfetch investor overview to learn more about the Farfetch class action lawsuit, including the lead plaintiff process and more.
THE FARFETCH CLASS ACTION LAWSUIT ALLEGATIONS
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 Farfetch class action lawsuit, 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.
As alleged in the Farfetch class action lawsuit, 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 Farfetch class action lawsuit alleges that following these developments, the price of Farfetch stock plummeted more than 45%, immediately eradicating nearly one-half of the company's market capitalization.
THE LEAD PLAINTIFF PROCESS IN THE FARFETCH CLASS ACTION LAWSUIT
The Private Securities Litigation Reform Act of 1995 allows any investor who has purchased Farfetch stock and experienced losses to seek appointment as the lead plaintiff in the class action against Farfetch. The lead plaintiff is typically the individual or entity with the largest financial interest in the relief sought and is also typical and adequate of the putative class.
The lead plaintiff is a fiduciary and acts on behalf of all other members of the class in directing the proceedings of the class action lawsuit. They have the authority to choose a law firm to handle the litigation of the class action against Farfetch. It is important to note that an investor's ability to participate in any future recovery resulting from the class action lawsuit is not dependent on serving as the lead plaintiff.
If you suffered losses in Farfetch stock and have additional questions, do not hesitate to reach out to Farfetch Stock Loss Lawyer Timothy L. Miles. He is dedicated to fighting for your rights and seeking compensation for your damages in the Farfetch class action lawsuit. Contact Attorney Timothy L. Miles today if you have suffered losses in Farfetch stock and are seeking legal recourse.
the BENEFITS and advantages 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 Farfetch class action lawsuit 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.
LEAD PLAINTIFF compensation in THE FARFETCH CLASS ACTION LAWSUIT
The lead plaintiff will not get more money than class members; however, they may be entitled to recover their reasonable expenses incurred with 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.
serving as multiple lead plaintiffs
Unless you have been a lead plaintiff in more than five securities class actions during any three-year period which is expressly prohibited by the securities laws. Otherwise, if you suffered losses in Farfetch stock, you may move to be appointed lead plaintiff in the Farfetch class action lawsuit.
HOW A FARFETCH STOCK LOSS LAWYER CAN HELP YOU IN THE CLASS ACTION AGAINST FARFETCH
A Farfetch stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the Farfetch class action lawsuit. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.
While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct.
Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.
One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).
This will most likely be the only call you need to make. (855) 846–6529 or [email protected].
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 Farfetch stock.
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, 6Class 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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