SAN DIEGO, June 09, 2015 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of shares of Etsy Inc (Nasdaq:ETSY) over alleged Violations of Federal Securities Laws by Etsy Inc in connection with certain allegedly false and misleading statements.
Investors who purchased Etsy Inc (Nasdaq:ETSY) shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff claims that between April 16, 2015 and May 10, 2015 defendants made false and/or misleading statements and/or failed to disclose that more than 5% of all merchandise for sale on Etsy's website were either counterfeit or constituted trademark or copyright infringement, that Brands are increasingly pursuing sellers on Etsy's platform for trademark or copyright infringement, jeopardizing the Company's listing fees and commissions, and that as a result of the foregoing, Etsy's public statements were materially false and misleading at all relevant times.
On May 11, 2015 a report was published that alleged that Etsy Inc may have counterfeit and infringement problems that eclipse those of other e-commerce giants. Specifically, an analyst report concluded that as many as 2 million items on Etsy may potentially be either counterfeit or constitute trademark or copyright infringement.
Shares of Etsy Inc (Nasdaq:ETSY) declined from as high as $35.74 per share on April 16, 2015, to as low as $14.64 per share on June 5, 2015.
Those who purchased Etsy Inc (Nasdaq:ETSY) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a 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. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.