RADNOR, PA / ACCESSWIRE / March 26, 2019 / Kaskela Law LLC is investigating Qurate Retail, Inc. (QRTEA) (''Qurate'' or the ''Company'') on behalf of the Company's stockholders.
In September 2018, a shareholder class action lawsuit was filed against Qurate and certain of the Company's senior executive officers alleging that the defendants, between August 5, 2015 and September 7, 2016, made a series of false and misleading statements to investors. According to the complaint, the defendants failed to disclose to investors that: (i) the Company was aggressively loosening the credit standards of its Easy-Pay program to attract a large group of new customers; (ii) the Company's strong sales growth was due to this loose credit policy; (iii) accounts receivable associated with this new group of customers posed a high risk of write-off; and (iv) as a result of the foregoing, the Company's positive statements about its business, operations, and prospects lacked a reasonable basis.
The investigation seeks to determine whether the members of Qurate's Board of Directors failed to properly fulfill their fiduciary duties to the Company and its stockholders in connection with the above.
Qurate stockholders who purchased shares of the Company's common stock prior to September 7, 2016 are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq.) at (888) 715 - 1740, or online at http://kaskelalaw.com/case/qurate-retail/, to discuss this investigation and their legal rights and options.
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
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SOURCE: Kaskela Law LLC
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