The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Qurate Retail Group, Inc. (NASDAQGS: QRTEA) who purchased shares between August 5, 2015 and September 7, 2016. The action, which was filed in the United States District Court for the District of Colorado, alleges that the Company violated federal securities laws.
In particular, the Qurate lawsuit alleges that (1) Qurate was aggressively loosening the credit standards of its Easy-Pay program to attract a large group of new customers; (2) Qurate’s strong sales growth was due to this loose credit policy; (3) accounts receivable associated with this new group of customers posed a high risk of write-off; and (4) consequently, Qurate’s positive statements about its business, operations, and prospects lacked a reasonable basis.
Shareholders have until November 5, 2018 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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