NEW YORK, Feb. 14, 2023 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that it is investigating whether the directors and/or officers of Polished.com Inc. (f/k/a 1847 Goedeker Inc.) (“Polished.com” or the “Company”) (NYSE: POL) breached their fiduciary duties of loyalty, good faith and candor and whether the Company suffered substantial harm as a result.
According to a complaint filed by investors in the securities of the Company, the registration statement supporting the IPO was false and/or misleading and/or failed to disclose 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; (4) contrary to the Company’s statements, the Company was not remediating its internal controls; (5) as a result, the Company would engage in an independent investigation; (6) as a result of the investigation, the Company would, among other things, retain independent counsel and consultants, and delay its quarterly filings in violation of NYSE requirements of listing; (7) following the commencement of the investigation, the Company’s CEO and CFO would leave the Company; and (8) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
If you are an investor in Polished.com securities and wish to discuss your rights or if you are aware of any facts relating to this investigation, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Please visit our website at http://www.gme-law.com for more information about the firm.
