An investor in shares of Blue Apron Holdings Inc (NYSE:APRN), filed a lawsuit against Blue Apron Holdings over alleged Securities Laws violations in connection with the Company’s initial public offering (“IPO”).
Investors who purchased shares of Blue Apron Holdings Inc (NYSE:APRN) have certain options and for certain investors are short and strict deadlines running. Deadline: October 16, 2017. NYSE:APRN investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges on behalf of investors of Blue Apron Holdings Inc (NYSE:APRN) common shares who purchased their shares pursuant to the Registration Statement issued in connection with the Company’s IPO, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the Registration Statement failed to disclose that: rather than continue to significantly increase spending on advertising, Blue Apron had already decided to significantly reduce spending on advertising in Q2 2017, which would hurt sales and profit margins in future quarters, that that Blue Apron was already experiencing adverse on-time in-full rates, meaning orders were not arriving on time or with all the ingredients needed, which was hurting customer retention, and that that the Company had run into delays in Q2 2017 with its new factory in Linden, New Jersey.
New York based Blue Apron Holdings, Inc. is a holding company focused on providing recipes and fresh ingredients for making home cooking accessible. On June 29, 2017, Blue Apron Holdings Inc sold 30 million shares of stock in its initial public stock offering (the “IPO”), raising $300.0 million in new capital.
Shares of Blue Apron Holdings Inc (NYSE:APRN) declined to as low as $5.00 per share on August 11, 2017.
Those who purchased shares of Blue Apron Holdings Inc (NYSE:APRN) have certain options and should contact the Shareholders Foundation.
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