August 11, 2020 - A consolidated amended complaint was filed.

September 17, 2019 - An investor in shares of Farfetch Limited (NYSE: FTCH) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by Farfetch Limited in connection with certain allegedly false and misleading statements made issued in connection with the Company’s September 2018 initial public offering (“IPO”). 

London based Farfetch Limited, through its subsidiary, Farfetch.com Limited, provides an online marketplace for luxury goods in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

On August 8, 2019, Farfetch Limited reported second quarter losses that were larger than expected as well as the resignation of its COO in 2020. Shares of Farfetch Limited (NYSE: FTCH) declined to as low as $9.22 per share on August 9, 2019.

According to the complaint the plaintiff alleges , that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that the defendants failed to disclose to investors, that large scale online wholesale was reasonably likely to lead to pricing volatility and heavy promotions of luxury goods, that the Company’s core business was vulnerable to such pricing pressures, that the Company would aggressively pursue acquisitions to remain profitable, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.