Investors can contact the law firm at no cost to learn more about recovering their losses
LOS ANGELES, Dec. 20, 2022 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Polished.com Inc. f/k/a Goedeker Inc. (“Polished.com” or “the Company”) (NYSE AMERICAN: POL) investors that a lawsuit filed on behalf of investors that purchased securities between July 27, 2020 and August 25, 2022.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Defendant Polished purports to sell furniture, fitness equipment, plumbing fixtures, televisions, outdoor appliances, and patio furniture, as well as commercial appliances for builder and business clients as a content-driven and technology-enabled shopping destination for appliances, furniture and home goods.
The complain filed in this lawsuit alleges that Defendants made materially false and misleading statements in the Registration Statement and throughout the Class Period. Specifically, Plaintiff alleges that Defendants failed to disclose, inter alia, that: (1) the Company would restate certain financials; (2) the Company's internal controls were inadequate; (3) the Company downplayed and obfuscated its internal controls issues; and (4) as a result, the Company would have an independent investigation.
Also on August 25, 2022, after market hours, the Company issued a press release entitled "Polished.com Provides Corporate Updates; Engages Leading Strategic Consulting Firm and Receives New York Stock Exchange Notice Regarding Late Form 10-Q Filing", which announced the NYSE notice and also announced that the Company had engaged "a leading strategic consulting firm with retail and ecommerce operations expertise to augment its existing management, identify opportunities to accelerate long-term profitable growth and, separately, to potentially expedite the Audit Committee of the Board of Directors' ongoing investigation."
On October 18, 2022, the Company issued a press release entitled "Polished.com Announces Management Transition" which announced that Defendants Albert Fouerti, Maria Johnson, and Elie Fouerti had resigned from their roles at the Company effective October 14, 2022.
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The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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