SAN DIEGO, Jan. 30, 2024 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of The Lovesac Company (NASDAQ: LOVE).
Investors, who purchased The Lovesac Company (NASDAQ: LOVE) shares prior to March 2023 and continue to hold any of those NASDAQ: LOVE shares, have also certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On December 19, 2023, a lawsuit was filed against The Lovesac Company. The plaintiff alleges that the Defendants made false and/or misleading statements and/or failed to disclose that Lovesac did not properly account for last mile shipping and freight expenses, that accordingly, Lovesac's disclosure controls and procedures and internal control over financial reporting were ineffective and deficient, that as a result of all the foregoing, Lovesac overstated its gross profit and operating and net income, as well as understated its shipping and handling costs and accrued freight and shipping expenses, in its previously issued financial statements, that accordingly, Lovesac was likely to restate one or more of its previously issued financial statements, and that as a result, the Company's public statements were materially false and misleading at all relevant times.
Those who purchased The Lovesac Company (NASDAQ: LOVE) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
