Securities Fraud CLASS ACTION LAWSUIT filed against Etsy!!!!

SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces A Securities Fraud Class Action Lawsuit Has Been Filed Against Etsy, Inc.
Google+ Share with LinkedIn
WILMINGTON, Del., May 14, 2015 /PRNewswire/ – Rigrodsky & Long, P.A.:

Do you, or did you, own shares of Etsy, Inc. (NASDAQ GS: ETSY)?
Did you purchase your shares between April 16, 2015 and May 10, 2015, inclusive?
Did you lose money in your investment in Etsy, Inc.?
Do you want to discuss your rights?
Rigrodsky & Long, P.A., including former Special Assistant United States Attorney, Timothy J. MacFall, announces that a complaint has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities that purchased the common stock of Etsy, Inc. (“Etsy” or the “Company”) (NASDAQ GS: ETSY) between April 16, 2015 and May 10, 2015, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).

If you purchased shares of Etsy during the Class Period, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to info@rl-legal.com; or at: http://rigrodskylong.com/investigations/etsy-inc-etsy.

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. Specifically, the Complaint alleges that the defendants concealed from the investing public that: (1) more than 5% of all merchandise for sale on Etsy’s website may be either counterfeit or constitute trademark or copyright infringement; (2) brands are increasingly pursuing sellers on Etsy for trademark or copyright infringement, jeopardizing the Company’s listing fees and commissions; and (3) as a result of the foregoing, the Company’s public statements were materially false and misleading at all relevant times. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on May 11, 2015, before the market opened for trading, numerous news outlets, including Bloomberg and the Associated Press, reported that Gil Luria, an equity analyst at Wedbush Securities, issued a note downgrading Etsy to “Underperform.” Among other things, the note mentioned, “Our research indicates as many as 2 million items on Etsy (>5% of all merchandise) may potentially be either counterfeit or constitute trademark or copyright infringement.”

On this news, shares in Etsy dropped over 8%, closing at $20.85 per share on May 11, 2015, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than July 13, 2015. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

While Rigrodsky & Long, P.A. did not file the Complaint in this matter, the firm, with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

Attorney advertising. Prior results do not guarantee a similar outcome.

CONTACT:
Rigrodsky & Long, P.A.
Timothy J. MacFall, Esquire
Peter Allocco
(888) 969-4242
(516) 683-3516
Fax: (302) 654-7530
info@rl-legal.com
http://www.rigrodskylong.com

SOURCE Rigrodsky & Long, P.A.Securit

Advertisements

2 thoughts on “Securities Fraud CLASS ACTION LAWSUIT filed against Etsy!!!!

  1. Quite a few other law firms pursuing this as well. Since Etsy does not care what we sellers have to say, perhaps they will be forced to answer to the puppet masters.

    Like

  2. Another one:

    Etsy, Inc.
    Join Class Action »

    The Rosen Law Firm announces that a class action suit has been filed on behalf of purchasers of Etsy, Inc. stock between April 16, 2015 and May 11, 2015 resulting from allegations that Etsy may have issued materially misleading business information to the investing public.

    If you purchased ETSY stock on or before May 11, 2015 and would like to join the action, please click “Join This Class Action” above.
    Press Release

    EQUITY ALERT: The Rosen Law Firm Announces the Filing of a Securities Class Action Against Etsy, Inc. – ETSY

    New York, N.Y., May 14, 2015. The Rosen Law Firm, a global investor rights firm, announces that a class action lawsuit has been filed on behalf of purchasers of Etsy, Inc, (NASDAQ: ETSY) securities from April 16, 2015 through May 10, 2015 (the “Class Period”). The lawsuit seeks to recover damages for Etsy investors under the federal securities laws.

    To join the Etsy class action, go to the firm’s website at http://www.rosenlegal.com/cases-611.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.

    NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

    The lawsuit claims that defendants during the Class Period misrepresented Etsy’s business and operations. Specifically, the lawsuit claims that defendants misstated and/or failed to disclose that: (1) over 5% of all merchandise for sale on Etsy’s website were either counterfeit or constituted trademark or copyright infringement; (2) brands are increasingly pursing sellers on Etsy’s platform for trademark or copyright infringement, jeopardizing Etsy’s listing fees and commissions; and (3) as a result, Etsy’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims shares of Etsy fell $1.86 per share on heavy trading volume to close at $20.85 on May 11, 2015.

    A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 13, 2015. If you wish to join the litigation, go to the firm’s website at http://www.rosenlegal.com/cases-611.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.

    The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

    ——————————-

    Contact Information:

    Laurence Rosen, Esq.
    Phillip Kim, Esq.
    Kevin Chan, Esq.
    The Rosen Law Firm, P.A.
    275 Madison Avenue, 34th Floor
    New York, NY 10016
    Tel: (212) 686-1060
    Toll Free: (866) 767-3653
    Fax: (212) 202-3827
    lrosen@rosenlegal.com
    pkim@rosenlegal.com
    kchan@rosenlegal.com
    http://www.rosenlegal.com

    Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s