Glancy Prongay & Murray LLP Announces Investigation on Behalf of Qurate Retail, Inc. Investors (QRTEA)
LOS ANGELES--(BUSINESS WIRE)--Oct 11, 2018--Glancy Prongay & Murray LLP (“GPM”) announces that it has commenced an investigation on behalf of Qurate Retail, Inc. (“Qurate” or the “Company”) (NASDAQ: QRTEA ) investors concerning the Company and its officers’ possible violations of federal securities laws.
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The investigation concerns whether Qurate misled investors regarding its financial performance for the period ended June 30, 2016, specifically the performance of the Company’s rising bad debt expenses. On August 5, 2016, Qurate issued a press release announcing financial results for the second quarter ended June 30, 2016, and disclosed “significant headwinds” and sales declines at QVC, the Company’s subsidiary, as compared to prior periods. Later that day, Qurate then disclosed “higher than expected write-offs on Easy Pay purchases from October and November of last year” and announced increased reserves for prior period purchases and a decision to moderate Easy-Pay usage. On this news, Qurate shares fell $5.69, or over 21%, to close at $20.61 on August 5, 2016, thereby injuring investors.
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If you purchased Qurate securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181011005969/en/
CONTACT: Glancy Prongay & Murray LLP, Los Angeles/New York
Lesley Portnoy, 310-201-9150 or 888-773-9224
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Glancy Prongay & Murray LLP
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PUB: 10/11/2018 06:23 PM/DISC: 10/11/2018 06:23 PM