LOS ANGELES, CA / ACCESSWIRE / April 25, 2017 / Lundin Law PC, a shareholder rights firm, announces the filing of a class action lawsuit against FTD Companies, Inc. ("FTD" or the "Company") (FTD) concerning possible violations of federal securities laws between March 13, 2015 and March 14, 2017, inclusive (the "Class Period"). Investors, who purchased or otherwise acquired shares during the Class Period, should contact the firm prior to the May 19, 2017 lead plaintiff motion deadline.
No class has been certified in the above action. Until a class is certified, you are not considered represented by an attorney. You may also choose to do nothing and be an absent class member.
According to the Complaint, throughout the Class Period, FTD made false and/or misleading statements and/or failed to disclose: that FTD's financial statements contained errors relating to the assessment of cross-border indirect taxes; that the Company lacked effective internal controls over financial reporting; that FTD overstated the benefits of the Provide acquisition; and that as a result of the above, the Company's public statements were materially false and misleading at all relevant times. On March 14, 2017, FTD announced that it identified "errors" relating to "the assessment of cross-border indirect taxes." FTD further disclosed that, as a result of the errors, it would revise its previously-reported consolidated financial statements for the years ended December 31, 2015 and 2014 and for the quarters in the years ended December 31, 2015 and 2016. When this news was released, shares of FTD fell in value materially, which harmed investors according to the Complaint.
Lundin Law PC was founded by Brian Lundin, a securities litigator based in Los Angeles dedicated to upholding shareholders' rights.
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SOURCE: Lundin Law PC