The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of Massachusetts on behalf of investors who purchased Class A shares of Wayfair Inc. (NYSE: W) between August 2, 2018 and October 31, 2018.
The complaint alleges that Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Wayfair had been experiencing significantly diminished demand for its online product offerings and had significantly increased advertising spending to grow sales; (2) Wayfair, which was already more than one-third of the way into 3Q18 when it announced its 2Q18 results on August 2, 2018, had already dramatically increased advertising spending for 3Q18; and (3) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you suffered a loss in Wayfair you have until March 11, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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