Polished.com Lawsuit POL | Deadline December 30, 2022
Polished.com Class Action Lawsuit (POL Lawsuit)
Investors who purchased or otherwise acquired Polished.comcommon stock during the period from July 27, 2022 – August 25, 2022 can register their information before the deadline of December 30, 2022.
Is Polished.com involved in a Securities Class Action Lawsuit?
Yes, a lawsuit has been filed against Polished.com on October 31, 2022, on behalf of shareholders during the period from July 27, 2022 through August 25, 2022.
What Is The Polished.com Lawsuit About?
The Polished.com Class Action Lawsuit (NYSE:POL) (Polished.com Class Action Lawsuit) was filed on behalf of the investors who purchased Polished.com (POL) securities between July 27, 2022 and August 25, 2022. For more on the POL Lawsuit please contact us today.
According to the Polished.com lawsuit, throughout the Class Period defendants made false and/or misleading statements 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) as a result, the Company would engage in an independent investigation;
(5) 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;
(6) following the commencement of the investigation, the Company’s CEO and CFO would leave the Company; and
(7) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.
How much did POL stock drop?
Shareholders who held POL securities saw stock price fell $0.37 per share, or 4%, to close at $8.63 per share on March 30, 2021.
For its second quarter of fiscal stock price fell 35% to close at $0.97 per share on August 16, 2022, on unusually heavy trading volume, damaging investors.
The Company’s stock price fell 7% to close at $0.74 per share on August 26, 2022, further damaging investors.
What does POL Do?
Polished.com f/k/a/ 1847 Goedeker Inc. operates an e-commerce platform for appliances, furniture, and home goods in the United States. The company offers household appliances, including refrigerators, ranges, ovens, dishwashers, microwaves, freezers, washers, and dryers.
It also sells furniture, décor, bed and bath, lighting, outdoor living, electronics, fitness equipment, plumbing fixtures, air conditioners, fireplaces, fans, dehumidifiers, humidifiers, air purifiers, and televisions.
In addition, the company provides appliance installation services and old appliance removal services.
Polished.com f/k/a/ 1847 Goedeker Inc. was founded in 1951 and is headquartered in Brooklyn, New York.
Which Class Action Attorney Firm Can Help With The POL Lawsuit?
Levi & Korsinsky LLP is a Securities Class Action Law Firm. For over 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders and built a track record of winning high-stakes cases. Our firm has extensive expertise representing investors in complex securities litigation and a team of over 70 employees to serve our clients. For seven years in a row, Levi & Korsinsky has ranked in ISS Securities Class Action Services’ Top 50 Report as one of the top securities litigation firms in the United States.
Does It Cost Me to Join the POL Class Action?
No, there are no out of pocket costs for you to join the Polished.com Lawsuit.
What Is the Lead Plaintiff Process?
According to the Private Securities Reform Act of 1995, any investor who bought or acquired POL securities in the Class Period may apply for appointment as a lead plaintiff. The lead plaintiff is usually the movant who has the most financial interest in the relief sought. However, he or she must also be typical or adequate to the putative classes. The POL class-action lawsuit is directed by the lead plaintiff. To litigate the Polished.com Class Action Lawsuit, the lead plaintiff may choose any law firm it wishes. The ability of an investor to share in any future recovery is not tied to being the lead plaintiff in the POL Class Action Lawsuit.
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