SHOPIFY INC. INVESTOR ALERT: Girard Gibbs Investigates Potential Securities Law Violations
October 04 2017 - 6:22PM
Business Wire
Girard Gibbs LLP is investigating claims on behalf of investors
of Shopify Inc. (NYSE:SHOP) regarding possible violations of
federal securities laws or other unlawful business practices.
Investors who purchased shares of Shopify prior to October 4, 2017
may be affected.
Shopify investors who want to learn more about this class
action lawsuit investigation, click here.
On October 4, 2017, Citron Research published a report
questioning the sustainability of Shopify’s user growth and
asserting that the company’s marketing practices violate Federal
Trade Commission (FTC) rules. The report specifically references
marketing material and promotions distributed by Shopify that
called it “the online store for someday millionaires” and claim
that members can quit their jobs and become millionaires. The
Citron report compared Shopify's business practices to those of
Herbalife, which recently paid $200 million to settle Federal
Trade Commission charges and agreed to an order “prohibit[ing]
Herbalife from misrepresenting distributors' potential or likely
earnings.”
Following this news, the share price of Shopify plummeted more
than 11.5% to close at $103.30 on October 4, 2017.
If you purchased or acquired shares of Shopify and would like to
speak privately with a securities attorney to learn more about the
investigation and your legal rights, visit our website or contact
the securities team directly at (800) 254-9493.
Girard Gibbs LLP is one of the nation’s leading firms
representing individual and institutional investors
in securities litigation to correct abusive corporate
governance practices, breaches of fiduciary duty, and proxy
violations. The firm has recovered over a billion dollars for its
clients against some of the world’s largest corporations, and has
earned Tier-1 rankings and been named in the U.S. Lawyers –
Best Law Firms list for five consecutive years.
This press release may constitute Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
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Girard Gibbs LLPEileen Epstein,
510-350-9728eje@classlawgroup.com
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