On or around 06/10/2020 (Date of last review)
Filing Date: September 17, 2019
According to the Complaint, Farfetch 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.
Company & Securities Information
Defendant: Farfetch Limited
Industry: Business Services
Headquarters: United Kingdom
Ticker Symbol: FTCH
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.
First Identified Complaint
Jeff Omdahl, et al. v. Farfetch Limited, et al.
COURT: S.D. New York
DOCKET #: 19-CV-08657
JUDGE: Hon. Alison J. Nathan
DATE FILED: 09/17/2019
CLASS PERIOD START: 09/24/2018
CLASS PERIOD END: 09/17/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Prongay & Murray LLP (NY)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
U.S. District Court Civil Docket
Opinion & Order
—Reference Complaint Complaint Related Data is not available
Related District Court Filings
—Related District Court Filings Data is not available