Daily News
From Home Furnishing Business
Wayfair Faces Class Action Lawsuit
September 22,
2015 by in Industry, Legal 
Online home furnishings retailer Wayfair faces a complaint alleging it and some of its executive officers issued a series of materially false and misleading statements to investors.
It includes that Wayfair failed to disclose to investors that Overstock.com is a competitor after Citron Research published a report on Aug. 31 asserting Wayfair had failed to mention Overstock.com as a competitor in its SEC filings despite significant similarities between the two companies.
The law firm of Kessler Topaz Meltzer & Check, LLP, filed the class action lawsuit against Wayfair on behalf of purchasers of the company’s securities between Oct. 2, 2014 and Aug. 31. Members of the class may, no later than Nov. 2, petition the court to be appointed as a lead plaintiff of the class.