[August 17, 2017]

The Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of Blue Apron Holdings, Inc. Investors and Encourages Investors to Contact the Firm

Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of all persons who purchased the common stock of Blue Apron Holdings, Inc. ("Blue Apron" or the "Company") (NYSE: APRN) pursuant to the Registration Statement issued in connection with the Company's initial public offering ("IPO"). Blue Apron investors have until October 16, 2017 to file a lead plaintiff motion.

Investors suffering losses on their Blue Apron investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].

The complaint filed in this class action alleges that Blue Apron violated the Securities Act of 1934 because the Registration Statement failed to disclose that: (1) rather than continue to significantly increase spending on advertising, Blue Apron had already decided to significantly reduce spending on advertising in Q2 2017, which would hurt sales and profit margins in future quarters; (2) Blue Apron was already experiencing adverse on-time in-full rates, meaning orders were not arriving on time or with all the ingredients needed, which was hurting customer retention; and (3) the Company had run into delays in Q2 2017 with its new factory in Linden, New Jersey.

Following the IPO, Blue Apron's stock declined materially, declining below $5, a decline of 50% from the IPO price.

If you purchased shares of Blue Apron you may move the Court no later than October 16, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at http://www.howardsmithlaw.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170817006020/en/

[ Back To TMCnet.com's Homepage ]