Case Page

 

Case Status:    ONGOING    
On or around 08/29/2017 (Ongoing date of last review)

Filing Date: August 17, 2017

According to the law firm press release, the filed complaint charges that Blue Apron violated the Securities Act of 1933 because the Registration Statement failed to disclose that: 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; that 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 that the Company had run into delays in Q2 2017 with its new factory in Linden, New Jersey. Subsequent to the IPO, Blue Apron’s stock declined immediately, declining below $5 per share less than two months after the IPO on June 28, 2017 -- a decline of 50% from the $10 per share IPO price.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Catalog & Mail Order)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: APRN
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. New York
DOCKET #: 17-CV-04846
JUDGE: Hon. William F. Kuntz, II
DATE FILED: 08/17/2017
CLASS PERIOD START: 06/29/2017
CLASS PERIOD END: 08/10/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bottini & Bottini, Inc.
    7817 Ivanhoe Avenue, Suite 102, Bottini & Bottini, Inc., CA 92037
    858.914.2001 858.914.2002 ·
  2. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date