NEW YORK, Aug. 31, 2015 /PRNewswire/ -- Attorney
Advertising -- Bronstein, Gewirtz & Grossman, LLC is
investigating potential claims on behalf of purchasers of the
securities of Wayfair, Inc. ("Wayfair" or the "Company") (NYSE:W
-News). Such investors are advised to contact Peretz Bronstein or his investor relations
coordinator Eitan Kimelman at
info@bgandg.com or 212-697-6484.
The investigation concerns whether Wayfair and certain of its
officers and/or directors have violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934.
On August 31, 2015, Citron
Research published a report entitled "Wayfair is the Most Mispriced
Stock Citron Research Has Seen in Years." The Citron report stated,
in part, that: (1) Wayfair had deliberately refused to acknowledge
Overstock as a competitor in its SEC filings, despite the
similarities between the two companies, because "if they
acknowledge Overstock as a comp, it becomes apparent to all that
Wayfair's stock is not worth more than $10 a share"; and (2) Wayfair's CEO Niraj Shah described the company as profitable
"for the first nine years of this business" in an August 13, 2015 interview, when the company, per
its S-1 filing, had $190 million in
cumulative losses before going public, "and the number has done
nothing but escalate."
Following this news, shares of Wayfair fell $4.09 or 9.69% during intraday trading to trade
at $38.13.
If you are aware of any facts relating to this investigation, or
purchased shares of Wayfair, you can assist this investigation by
contacting Peretz Bronstein or his
Investor Relations Coordinator Eitan
Kimelman of Bronstein, Gewirtz & Grossman, LLC at
212-697-6484 or via email info@bgandg.com. Those who inquire
by e-mail are encouraged to include their mailing address, email
and telephone number.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation
boutique. Our primary expertise is the aggressive pursuit of
litigation claims on behalf of our clients. In addition to
representing institutions and other investor plaintiffs in class
action security litigation, the firm's expertise includes general
corporate and commercial litigation, as well as securities
arbitration. Attorney advertising. Prior results do not guarantee
similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman 212-697-6484
info@bgandg.com
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SOURCE Bronstein, Gewirtz & Grossman, LLC