NEW YORK, June 24, 2015 (GLOBE NEWSWIRE) -- The Rosen Law Firm, a global investor rights firm, reminds purchasers of Etsy, Inc, (Nasdaq:ETSY) securities from April 16, 2015, through May 10, 2015 (the "Class Period") of the important July 13, 2015 lead plaintiff deadline in the class action. The lawsuit seeks to recover damages for Etsy investors under the federal securities laws.
To join the Etsy class action, go to the firm's website at http://www.rosenlegal.com/cases-611.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
The lawsuit claims that Etsy misrepresented its true operating the business condition. Specifically, the suit claims that defendants misstated and/or failed to disclose that: (1) more than 5% of all merchandise for sale on Etsy's website were either counterfeit or constituted trademark or copyright infringement; (2) brands are increasingly pursing sellers on Etsy's platform for trademark or copyright infringement, jeopardizing the Company's listing fees and commissions; and (3) as a result of the foregoing, Etsy's public statements were materially false and misleading at all relevant times.
On May 11, 2015, before the market opened for trading, numerous news outlets issued a note downgrading Etsy to "Underperform." As a result of this news, shares of Etsy fell $1.86 on heavy trading volume to close at $20.85 on May 11, 2015.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than July 13, 2015. If you wish to join the litigation, go to the firm's website at http://www.rosenlegal.com/cases-611.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. or Kevin Chan, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at pkim@rosenlegal.com or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.