BOSTON, March 30, 2020 (GLOBE NEWSWIRE) -- Block & Leviton LLP (www.blockesq.com), a national securities litigation firm, announces that it has launched an investigation into potential securities fraud by Wayfair Inc. (NYSE: W) and certain of its officers. Investors who have lost money are encouraged to contact the firm for a free case evaluation.
On February 28, 2020, Wayfair announced its financial results for the fourth quarter and full year of 2019. The Company’s GAAP net loss was approximately $984.6 million for the year. Wayfair announced that it had spent $1.096 billion on advertising during 2019 and $3.077 billion in total operating expenses. On this news, the stock plummeted to approximately $63.00 per share, down from well over $150.00 per share during the 2019 calendar year.
If you purchased or acquired shares of Wayfair common stock and have questions about your legal rights or possess information relevant to this matter, please contact Block & Leviton attorney Stephen Teti at (617) 398-5600, via email at steti@blockesq.com, or at https://shareholder.law/wayfair.
Block & Leviton LLP is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation’s largest institutional investors as well as individual investors in securities litigation throughout the United States. The firm’s lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
260 Franklin St., Suite 1860
Boston, MA 02110
Phone: (617) 398-5600
Email: steti@blockesq.com
SOURCE: Block & Leviton LLP
www.blockesq.com