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 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.
Read on to learn what Fartetch investors need to know about the Farfetch class action lawsuit.
ALLEGATIONS IN THE FARFETCH 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 CLASS ACTION against FARFETCh
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 class action against Farfetch. 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 class action against Farfetch if you suffered losses in Farfetch stock.
A NON-U.S. INVESTOR may SERVE AS LEAD PLAINTIFF IN THE FARFETCH 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 Farfetchlawsuit.
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 Farfetch class action lawsuit if you suffered losses in Farfetch stock.
CLASS PERIOD DETERMINation IN THE FARFETCH CLASS ACTION LAWSUIT
In a securities fraud class action such as the Farfetch class action lawsuit, 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.
THE LEAD PLAINTIFFS will not GET MORE MONEY THAN CLASS MEMBERS IF THE FARFETCH CLASS ACTION LAWSUIT
But 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.
Lead Plaintiff in Multiple Cases Including Farfetch Lawsuit
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 Lawsuit.
the COURT may APPOINT 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.
HOW A FARFETCH STOCK LOSS LAWYER CAN HELP YOU
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].
Call a Farfetch stock loss Lawyer today if you suffered losses in Farfetch stock about the Farfetch class action lawsuit who will fight to recover your suffered losses in Farfetch stock.
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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