The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of FTD Companies, Inc. (NASDAQ: FTD) who purchased shares between March 13, 2015 and March 14, 2017. The action, which was filed in the United States District Court for the Northern District of Illinois, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that: (i) FTD’s financial statements contained errors relating to the assessment of cross-border indirect taxes; (ii) in turn, the Company lacked effective internal controls over financial reporting; (iii) FTD had overstated the benefits of the Provide acquisition; and (iv) as a result of the foregoing, FTD’s public statements were materially false and misleading at all relevant times.
Shareholders have until May 19, 2017 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.