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INVESTOR ALERT: Law Offices of Howard G. Smith Commences Investigation on Behalf of Shopify Inc. Investors (SHOP)Law Offices of Howard G. Smith announces an investigation on behalf of Shopify Inc. ("Shopify" or the "Company") (NYSE: SHOP) investors concerning the Company and its officers' possible violations of federal securities laws. On October 4, 2017, Citron Research published a report portraying Shopify as "a completely illegal get-rich quick scheme." The report alleged, among other things, that Shopify inaccurately described the Company's relationship with certain affiliates, stating, in part: "Shopify calls these affiliates 'partners.' We call them promoters selling business opportunities." The Citron report compard Shopify's business practices to those of Herbalife Ltd. ("Herbalife"), a company that recently paid $200 million and agreed to an order "prohibit[ing] Herbalife from misrepresenting distributors' potential or likely earnings" to settle Federal Trade Commission charges. On this news, Shopify's stock dropped $13.91, or 11.91%, to close at $102.90 on October 4, 2017, thereby damaging investors. If you purchased Shopify securities, have information or would like to learn more about these claims, or 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 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/20171004006467/en/ |
