NEW YORK, Nov. 24, 2023 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, reminds investors that a class action lawsuit has been filed against Farfetch Limited (“Farfetch” or the “Company”) (NYSE: FTCH) in the United States District Court for the District of Maryland on behalf of all persons and entities who purchased or otherwise acquired Farfetch securities between March 9, 2023 and August 17, 2023, both dates inclusive (the “Class Period”). Investors have until December 19, 2023 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The filed complaint alleges that defendants made false statements and/or concealed that: (i) Farfetch was experiencing a significant slowdown in growth in the U.S. and China; (ii) Farfetch also faced onboarding challenges impacting the launch of its Reebok partnership; (iii) Farfetch downplayed challenges it faced with respect to, and/or overstated its ability to manage, its supply chain and inventory; (iv) all the foregoing was having a significant negative impact on Farfetch's revenue and gross merchandise value growth; (v) accordingly, Farfetch was unlikely to meet market expectations for its Q2 2023 financial results or its own FY 2023 revenue guidance; and (vi) as a result, the Company's public statements were materially false and misleading at all relevant times.
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