A lawsuit was filed on behalf of investors in Netshoes (CAYMAN) Ltd (NYSE:NETS) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/05/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Netshoes (CAYMAN) Ltd (NYSE:NETS), filed a lawsuit over alleged Securities Laws violations by Netshoes (CAYMAN) Ltd in connection with the company's April 12, 2017 initial public offering
Investors who purchased shares of Netshoes (CAYMAN) Ltd (NYSE:NETS), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Sao Paulo, Brazil based Netshoes (Cayman) Limited is a sports and lifestyle online retailer in Latin America. Netshoes (CAYMAN) Ltd went public in April 2017 and shares of Netshoes (CAYMAN) Ltd (NYSE:NETS) rose to $26..73 per share on May 24, 2017.
According to the complaint the plaintiff alleges, that the defendants violated Securities Laws. More specifically, the plaintiff claims that Netshoes represented in its registration statement in connection with the company's April 12, 2017 initial public offering that the company had significant market share in a large addressable market and highlighted customer loyalty, that Netshoes touted that it did not have a relevant direct competitor in the eCommerce sports category in the Latin American region.
The plaintiff claims that contrary to these representations, Netshoes faced intense competition in the sports, fashion, and beauty ecommerce market, which threatened its market share and profitability.
Shares of Netshoes (CAYMAN) Ltd (NYSE:NETS) declined to as low as $1.84 per share in July 2018.
Those who purchased shares of Netshoes (CAYMAN) Ltd (NYSE:NETS) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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