Glancy Prongay & Murray LLP (GPM) announces that a class action lawsuit has been filed on behalf of investors that purchased or otherwise acquired Qurate Retail Group, Inc. (Qurate or the Company) (NASDAQ: QRTEA) securities between August 5, 2015 and September 7, 2016, inclusive (the Class Period). Qurate investors have until November 5, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
The complaint filed in this class action alleges that throughout the class period, Qurate Retail Group, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) Qurate was aggressively loosening the credit standards of its Easy-Pay program to attract a large group of new customers; (2) Qurates strong sales growth was due to this loose credit policy; (3) accounts receivable associated with this new group of customers posed a high risk of write-off; and (4) consequently, Qurates positive statements about its business, operations, and prospects lacked a reasonable basis.
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If you purchased shares of Qurate during the Class Period you may move the Court no later than November 5, 2018 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you 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 protected], 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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