On or around 10/01/2018 (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.
On December 15, 2017, the Court issued an Order appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed an amended Complaint on February 27, 2018.
Company & Securities Information
Defendant: Blue Apron Holdings, Inc.
Industry: Retail (Catalog & Mail Order)
Headquarters: United States
Ticker Symbol: APRN
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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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.
First Identified Complaint
Rustem Nurlybayev, et al. v. Blue Apron Holdings, Inc., et al.