September 23, 2019 - The court approved settlement and entered final judgment.

June 11, 2019 - The court preliminarily approved the settlement.

May 31, 2019 - A stipulation and agreement of settlement was entered by the parties.

May 30, 2019 - An amended complaint was filed.

September 6, 2018 - An investor in shares of Qurate Retail Group, Inc. (NASDAQ: QRTEA) filed a lawsuit in the U.S. District Court for the District of Colorado over alleged violations of Federal Securities Laws by Qurate Retail Group, Inc. in connection with certain allegedly false and misleading statements made between August 5, 2015, and September 7, 2016.

West Chester, PA based Qurate Retail Group, Inc., formerly known as Liberty Interactive, markets and sells various consumer products primarily through live merchandise-focused televised shopping programs, Websites, and mobile applications. Qurate Retail Group, Inc is number one in video commerce, with a worldwide reach of nearly 360 million homes via 16 television channels and multiple media outlets. QVC, Inc. ( QVC ) is Qurate's largest segment. As a promotional tool used to spur sales, QVC offers a payment plan called Easy-Pay to its customers in the U.S., U.K., Germany and Italy (known as Q-Pay in Germany, and Italy). Easy Pay allows QVC customers to pay for certain merchandise in two or more monthly installments. When Easy-Pay is elected by the QVC customer, the first installment is billed to the customer's credit card upon shipment and an Easy-Pay receivable is established to account for the collection of subsequent installments. Qurate is exposed to the credit risk on the Easy-Pay receivables. Specifically, if the QVC customer does not remit payment for the subsequent Easy-Pay installments, Qurate is required to record a loss and write off the Easy-Pay receivable. Under Generally Accepted Accounting Principles, the Company is required to establish adequate reserves for its Easy-Pay receivables.

On August 5, 2016, Qurate Retail Group, Inc announced its financial results for the second quarter ended June 30, 2016, in which the Company disclosed significant headwinds and sales declines as compared to prior periods. Later that day, during the Company's Second Quarter 2016 Earnings Call with analysts and investors, the Company 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. The Company also disclosed that [g]iven heightened write-off risks, we choose to moderate our Easy Pay usage beginning in June, which puts some additional pressure on our sales.

On September 8, 2016, during a Goldman Sachs Global Retailing Conerence in New York City, Qurate Retail Group, Inc disclosed the impact of the Easy Pay issues, revealing to investors that it expects to see higher default rates associated with these sales.

On February 28, 2017, Qurate Retail Group, Inc. announced its results for its fourth quarter and year end 2016. Qurate Retail Group, Inc. reported that its annual Total Revenue rose from over $9.16 billion in 2015 to over $10.21 billion in 2016 and that its Net Income declined from $640 million in 2015 to $473 million in 2016. Shares of Qurate Retail Group, Inc. (NASDAQ: QRTEA) declined from $29.00 per share in February 2018 to as low as $20.15 per share on August 30, 2018.

According to the complaint the plaintiff alleges on behalf of purchasers of Qurate Retail Group, Inc. (NASDAQ: QRTEA) common shares between August 5, 2015, and September 7, 2016, that the defendants violated Federal Securities Laws.

More specifically, the plaintiff claims that between August 5, 2015, and September 7, 2016, the Defendants failed to disclose that Qurate Retail Group, Inc was aggressively loosening the credit standards of its Easy-Pay program to attract a large group of new customers, that Qurate Retail Group, Inc’s strong sales growth was due to this loose credit policy, that accounts receivable associated with this new group of customers posed a high risk of write-off, and that as a result of the foregoing, the Company's positive statements about its business, operations, and prospects lacked a reasonable basis.

On September 6, 2018, NASDAQ: QRTEA shares closed at $20.66 per share.