LOS ANGELES, CA / ACCESSWIRE / September 15, 2017 / Lundin Law PC, a shareholder rights firm, announces a class action lawsuit against Blue Apron Holdings, Inc. ("Blue Apron" or the "Company") (NYSE: APRN) for possible violations of federal securities laws related to its initial public offering (the "IPO"). Investors, who purchased or otherwise acquired shares pursuant and/or traceable to the IPO, should contact the firm prior to the October 16, 2017 lead plaintiff motion deadline.
To participate in this class action lawsuit, click here.
You can also call Brian Lundin, Esq., of Lundin Law PC, at 888-713-1033, or you can e-mail him at firstname.lastname@example.org.
No class has been certified in the above action yet. Until a class is certified, you are not considered to be represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, the Registration Statement filed in connection with the IPO failed to disclose that: Blue Apron decided to significantly reduce spending on advertising in Q2 2017, hurting sales and profit margins in future quarters; that the Company was experiencing difficulty with customer retention due to orders not arriving on time or with all expected ingredients; and that the Company was experiencing delayed orders in Q2 2017 related to its new factory in Linden, New Jersey. Since the IPO, Blue Apron's share price has fallen materially, which caused investors harm according to the Complaint.
Lundin Law PC was founded by Brian Lundin, Esq., a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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Lundin Law PC
Brian Lundin, Esq.
SOURCE: Lundin Law PC