The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Farfetch Limited (NYSE: FTCH) who purchased or otherwise acquired Farfetch Class A ordinary shares between September 21, 2018, and August 8, 2019, inclusive, including those who purchased or otherwise acquired Farfetch Class A ordinary shares pursuant and/or traceable to the registration statement and prospectus issued in connection with Company's September 21, 2018 initial public offering. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Farfetch lawsuit alleges that (1) the Company would refuse to reduce merchandise prices to match the rest of the market; (2) this sub-optimal pricing strategy rendered the Company's platform highly susceptible to underpricing by competitors, despite what Defendants touted as a "superior" platform; and (3) as a result, the Company's past and projected Platform Gross Merchandise Value growth rates were foreseeably unsustainable. As a result of the foregoing, Defendants' statements about the Company's business strategy and growth prospects lacked a reasonable basis at all relevant times.
Shareholders have until November 18, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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