Important Investor Alert: JFJN Law Announces Filing of a Class Action against Blue Apron Holdings Inc.
August 23 2017 - 11:13AM
Business Wire
JFJN Law (the “firm) announces the filing of a class action
lawsuit against Blue Apron Holdings, Inc., (“APRN” or the
“Company”) (NYSE:APRN). Investors who purchased or otherwise
acquired shares between June 28, 2017 and the present,
inclusive (the “Class Period”) are encouraged to contact the Firm
in advance of the October 20, 2017 lead plaintiff motion
deadline.
If you purchased shares in APRN during the Class Period, please
contact Justin Frankel, Esq. or Jason Newfield, Esq., of JFJN Law,
1-888-459-0507 or click here before October 20, 2017.
THERE HAS NOT BEEN A CLASS CERTIFICATION OF THIS CASE YET. UNTIL
CERTIFICATION OCCURS, YOU ARE NOT REPRESENTED BY AN ATTORNEY. YOU
MAY CHOOSE TO TAKE NO ACTION AND REMAIN A PASSIVE CLASS MEMBER.
According to the Class Action Complaint, APRN made false and
misleading statements in their Registration Statement. As a result,
Blue Apron priced the IPO at $10.00 per share and issued and sold
over 30 million shares.
According to the Complaint, APRN made false and misleading
statements and/or failed to disclose that: (1) rather than continue
to significantly increase spending on advertising, Blue Apron had
already decided to significantly reduce spending on advertising in
Q2 2017, which would hurt sales and profit margins in future
quarters; (2) Blue Apron was already experiencing adverse on-time
in-full rates, meaning orders were not arriving on time or with all
the ingredients needed, which was hurting customer retention; and
(3) Blue Apron had run into delays in Q2 2017 with its new factory
in Linden, New Jersey. Since the Initial Public Offering, Blue
Apron’s stock has plummeted materially, which has caused investors
harm as articulated in the Complaint.
As a result, and according to the Complaint, on August 10, 2017,
less than two months after Blue Apron went public, Blue Apron
announced significant problems and lowered its guidance for the
second half of 2017. Following these statements, Blue Apron’s stock
closed at $5.14 per share, a loss of almost 50% of its IPO
price.
This press release may be considered Attorney Advertising in
some jurisdictions.
If you suffered a loss in Blue Apron (APRN), you have until
October 20, 2017 to request that the Court appoint you as a lead
plaintiff. Your ability to share in any recovery does not require
you serve as a lead plaintiff.
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version on businesswire.com: http://www.businesswire.com/news/home/20170823005743/en/
JFJN LawJustin C. Frankel, Esq. or Jason Newfield,
Esq.Toll-Free: 1-888-459-0507www.jfjnclassaction.com
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