According to the Complaint, Farfetch Limited is a technology platform that purports to be the only global luxury digital marketplace at scale that connects brands, retailers, and consumers.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that large scale online wholesale was reasonably likely to lead to pricing volatility and heavy promotions of luxury goods; (2) that the Company’s core business was vulnerable to such pricing pressures; (3) that the Company would aggressively pursue acquisitions to remain profitable; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On June 10, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiffs and Counsel. Lead Plaintiffs filed a consolidated amended Complaint on August 11. Defendants filed a Motion to Dismiss the consolidated amended Complaint on October 23. On September 29, 2021, the Court issued an Order granting Defendants' Motion to Dismiss and closed the case. Lead Plaintiffs filed a notice appealing the Court's Dismissal Order on October 29.

On May 2, 2023, the Court of Appeals affirmed the District Court's dismissal of the Complaint.