NEW YORK, Aug. 16, 2013 /PRNewswire/ --Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at CafePress, Inc. ("CafePress" or the "Company") (NASDAQ: PRSS).
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The investigation focuses on whether the Company and its executives violated federal securities laws with respect to its disclosures concerning business, operational, and compliance policies. Specifically, the investigation focuses on whether CafePress failed to disclose in its March 28, 2012 Registration Statement that: (i) prior revenues were not indicative of future revenues, since its core business exhibited weakened revenues and growth in its shop segment; (ii) gross margins were under pressure because of increased sales and marketing spending due to competition; and (iii) positive revenues and growth of the Company's shop segment were unsustainable.
On July 31, 2012, the Company issued disappointing second quarter 2012 financial results, announcing net revenues lower than the market's expectations and reducing its previously reported guidance for 2012. Following this news, the stock declined by $5.61 or over 40%.
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Take Action
If you invested in CafePress stock or options pursuant or traceable to the Company's Registration Statement and Prospectus issued in connection with its March 28, 2012 initial public offering and would like to discuss your legal rights, visit www.faruqilaw.com/PRSS. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.comor fmcconville@faruqilaw.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding CafePress' conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Francis McConville, Esq.
fmcconville@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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