Blue Apron Holdings, Inc. The Law Offices of Vincent Wong announce that a securities action has been commenced on behalf of investors who purchased Blue Apron Holdings, Inc. (“Blue Apron”) (NYSE: APRN) securities pursuant and/or traceable to the Company’s Initial Public Offering on or about June 29, 2017.
The complaint filed in this class action alleges that Blue Apron violated the Securities Act of 1934 because the Registration Statement failed to disclose that: (1) rather than continue to significantly increase spending on advertising, Blue Apron had already decided to significantly reduce spending on advertising in Q2 2017, which would hurt sales and profit margins in future quarters; (2) Blue Apron was already experiencing adverse on-time in-full rates, meaning orders were not arriving on time or with all the ingredients needed, which was hurting customer retention; and (3) the Company had run into delays in Q2 2017 with its new factory in Linden, New Jersey.
“Blue Apron Holdings, Inc.”
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