Polished.com Class Action Lawsuit POL | Deadline December 30, 2022

Polished.com Class Action Lawsuit POL | Deadline December 30, 2022

Polished.com Class Action Lawsuit

Polished.com Class Action Lawsuit POL | Deadline December 30, 2022

Polished.com Class Action Lawsuit (POL Lawsuit)

What Is The Polished.com Class Action Lawsuit About?

The Polished.com Class Action Lawsuit (NYSE:POL) (Polished.com Class Action Lawsuit) was filed when after the market closed on August 25, 2022, after market hours, the Company issued a press release entitled “Polished.com Provides Corporate Updates; Engages Leading Strategic Consulting Firm and Receives New York Stock Exchange Notice Regarding Late Form 10-Q Filing” which announced the NYSE notice and also announced that the Company had engaged “a leading strategic consulting firm with retail and ecommerce operations expertise to augment its existing management, identify opportunities to accelerate long-term profitable growth and, separately, to potentially expedite the Audit Committee of the Board of Directors’ ongoing investigation.

Is There A Polished.com Class Action Lawsuit?

POL:NYSE Class Action Lawsuit (Polished.com)  was filed on October 31, 2022 on behalf of the shareholders.

Notably, in the Restatement 8-K, the Company focused blame of the restatement on “the Supreme Court’s 2018 decision in South Dakota v. Wayfair, Inc.” instead of its ineffective and inadequate internal controls, stating:… On this news, the Company’s stock price fell $0.37 per share, or 4%, to close at $8.63 per share on March 30, 2021.

The press release issued August 15, 2022, is entitled “Polished.com Provides Second Quarter 2022 Financial and Operational Update” and stated the following, in pertinent part, regarding the Company’s inability to timely file its quarterly report and the newly announced investigation:… On this news, Polished’s 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.

“Alsmonth extension to regain o on August 25, 2022, after market hours, the Company issued a press release entitled “Polis hed.com Provides Corporate Updates; Engages Leading Strategic Consulting Firm and Receives New York Stock Exchange Notice Regarding Late Form 10 announced the NYSE notice and also Q Filing” which nnounced that the Company had engaged “a leading strategic consulting firm with retail and ecommerce operations expertise to augment its existing management, identify opportunities to accelerate longterm profitable growth and, separately, to potentially expedite the Audit Committee of the Board of Directors’ ongoing investigation. On this news, the Company’s stock price fell 7% to close at $0.74 per share on August 26, 2022, further damaging investors.

 

Is There A Deadline For The POL Lawsuit?

The deadline for the Polished.com Class Action Lawsuit (NYSE:POL) (Polished.com) is December 30, 2022 for a Lead Plaintiff.

How Much Did Shareholders Lose In POL?

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 Is The Polished.com Lawsuit Complaint?

Levi & Korsinsky, LLP announces that a POL class action lawsuit (Polished.com Class Action Lawsuit) has been filed on behalf of investors who purchased Polished.com Class Action Lawsuit (POL) securities between July 27, 2022 – August 25, 2022, inclusive. 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.

If you suffered a loss in POL, you have until December 30, 2022 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Why Levi & Korsinsky, LLP Over the past 20 years, the team at 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.

 

What Is The Lead Plaintiff Process?

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.

 

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.

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