NEW YORK, May 22, 2015 /PRNewswire/ -- Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds
investors in Etsy, Inc. ("Etsy" or the "Company") (NASDAQ:
ETSY) of the July 13, 2015 deadline
to seek the role of lead plaintiff in a federal securities class
action lawsuit filed against Etsy and certain officers of the
Company.
A complaint has been filed in the United States District Court
for the Eastern District of New
York on behalf of all persons who purchased or otherwise
acquired Etsy securities between April 16,
2015 and May 10, 2015 (the
"Class Period").
The complaint alleges that the Company and its executives
violated federal securities laws with respect to its statements
concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period,
Etsy made false and misleading statements and/or failed to disclose
that: (i) over 5% of all merchandise for sale on the Company's
website may be either counterfeit or constitute trademark or
copyright infringement; and (ii) brands are increasingly pursuing
sellers on Etsy over trademark or copyright infringement,
jeopardizing the Company's listing fees and commissions.
On May 11, 2015, several news
outlets reported that Gil Luria, an
equity analyst at Wedbush Securities, issued a note downgrading
Etsy to "Underperform" and alleged that over 5% of merchandise sold
on Etsy was either counterfeit or was violating trademark or
copyright infringement.
Following this news, the price of the Company's stock declined
by $1.86 per share, or over 8%, to
close on May 11, 2015 at $20.85 per share.
Request more information now by clicking here:
www.faruqilaw.com/ETSY. There is no cost or obligation to
you.
Take Action
If you invested in Etsy securities during
the Class Period and would like to discuss your legal rights, visit
www.faruqilaw.com/ETSY. You can also contact us by calling
Richard Gonnello toll free at
877-247-4292 or at 212-983-9330 or by sending an e-mail to
rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding the Company's conduct
to contact the firm, including whistleblowers, former employees,
shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The
firm is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients. To keep track of the
latest securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict
a similar outcome with respect to any future matter. We
welcome the opportunity to discuss your particular case. All
communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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