NEW YORK, NY / ACCESSWIRE / May 11, 2015 / Pomerantz LLP is investigating claims on behalf of investors of Etsy, Inc. ("Etsy" or the "Company") (NASDAQ: ETSY). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 237.
The investigation concerns whether Etsy and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On May 11, 2015, a report in Associated Press stated that Wedbush Capital Partners analyst Gil Luria said that research indicates that as many as 2 million items on Etsy may potentially be either counterfeit or constitute trademark or copyright infringement. Additionally, "[i]f Etsy chooses to continue to ignore these potential violations, we believe it could tarnish its brand with both buyers and sellers," he wrote.
On this news, shares of Etsy fell $1.86 per share, to $20.85, or more than 8.19%, in intra-day trading on May 11, 2015.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
SOURCE: Pomerantz LLP
