The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Polished.com Inc. f/k/a 1847 Goedeker Inc. (NYSE: POL) who purchased securities: (1) pursuant and/or traceable to the registration statement and related prospectus issued in connection with the Company’s 2020 initial public offering; and/or (2) between July 27, 2020 and August 25, 2022, inclusive. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Polished lawsuit alleges that (1) the Company would restate certain financials; (2) the Company’s internal controls were inadequate; (3) the Company downplayed and obfuscated its internal controls issues; (4) as a result, the Company would engage in an independent investigation; (5) as a result of the investigation, the Company would, among other things, retain independent counsel and consultants, and delay its quarterly filings in violation of NYSE requirements of listing; (6) following the commencement of the investigation, the Company’s CEO and CFO would leave the Company; and (7) as a result, defendants’ public statements were materially false and/or misleading at all relevant times.
Shareholders have until December 30, 2022 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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