INVESTOR ALERT: Kirby McInerney LLP Commences Investigation on Behalf of Shopify Inc. Investors
October 06 2017 - 3:06PM
Business Wire
The law firm of Kirby McInerney LLP announced today 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. To obtain
information or aid in the investigation, please visit the Shopify
page on our website at www.kmllp.com.
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 compared 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 $13.51, or 11.57%, to
close at $103.30 on October 4, 2017, thereby damaging
investors.
If you purchased or otherwise acquired Shopify securities, have
information or would like to learn more about these claims, please
contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600,
Toll-Free at 888-529-4787, or by email at telrod@kmllp.com to
discuss your rights or interests with respect to these matters
without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, whistleblower and consumer
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars, and the firm’s achievements and quality of service have
been chronicled in numerous published decisions. Additional
information about the firm can be found at Kirby McInerney LLP’s
website: http://www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20171006005745/en/
Kirby McInerney LLPThomas W. Elrod,
212-371-6600telrod@kmllp.comhttps://www.kmllp.com
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