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Qurate Retail Group, Inc.

NASDAQ:QRTEA

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Qurate Retail, Inc. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Qurate Retail, Inc. (“Qurate” or the “Company”) (NASDAQ: QRTEA) of the November 5, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in Qurate stock or options between August 5, 2015, and September 7, 2016 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you.  You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

The lawsuit has been filed in the U.S. District Court for the District of Colorado on behalf of all those who purchased Qurate securities between August 5, 2015 and September 7, 2016 (the “Class Period”).  The case, Bristol County Retirement System v. Qurate Retail Inc. et al, No. 18-cv-02300 was filed on September 6, 2018 and has been assigned to Judge Michael E. Hegarty.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the Company was aggressively loosening the credit standards of its Easy-Pay program to attract a large group of new customers; (2) the Company’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) as a result of the foregoing, the Company’s positive statements about its business, operations, and prospects lacked a reasonable basis.

Specifically, on September 8, 2016, during a Goldman Sachs Global Retailing Conference in New York City, the Company finally disclosed the true impact of the Easy Pay issues, revealing to investors that it expects to see “higher default rates” associated with these sales. Moreover, the Company warned that this negative trend, while improved, would continue to impact its business.

After the announcement, Qurate’s share price fell from $21.46 per share on September 7, 2016 to a closing price of $19.59 on September 8, 2016—a $1.87 or 8.71% drop.

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  • Case:
    Qurate Retail Group, Inc.
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Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 09/14/2018

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