This content is a press release from our partner BusinessWire. The AP newsroom and editorial departments were not involved in its creation.
PRESS RELEASE from provider: BusinessWire
This content is a press release from our partner BusinessWire. The AP newsroom and editorial departments were not involved in its creation.

Glancy Prongay & Murray LLP Announces Investigation on Behalf of Qurate Retail, Inc. Investors (QRTEA)

October 11, 2018

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.

If you are a shareholder who suffered a loss, click here to participate.

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 shareholders@glancylaw.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.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

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





SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2018.

PUB: 10/11/2018 06:23 PM/DISC: 10/11/2018 06:23 PM