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Farfetch Limited

(NYSE: FTCH)

Summary

Attention investors who purchased shares of Farfetch Limited between {{period_start}} and September 2018 initial public offering:

Rigrodsky & Long is investigating claims brought in a securities fraud class action complaint against Farfetch Limited ("Farfetch") concerning whether Farfetch and certain of the Company's directors and/or officers made materially false and misleading statements and failed to disclose materially adverse facts in connection with Farfetch's September 2018 initial public offering (the "Class Period"), concerning Farfetch's business, operations and prospects. These misrepresentations and omissions artificially inflated the price of Farfetch's stock throughout the Class Period.

Press Release

Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the common stock of Farfetch Limited (“Farfetch” or the “Company”) (NYSE: FTCH) in connection with the Company’s September 2018 initial public offering (“IPO”), alleging violations of the Securities Exchange Act of 1933 against the Company, the sponsors of the IPO, and certain of the Company’s officers (the “Complaint”).

If you purchased shares of Farfetch in connection with the IPO and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Seth D. Rigrodsky or Timothy J. MacFall at Rigrodsky & Long, P.A., 300 Delaware Avenue, Suite 1220, Wilmington, DE 19801, by telephone at (888) 969-4242, by e-mail at info@rl-legal.com, or at http://rigrodskylong.com/contact-us/.       

The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects.  Specifically, the Complaint alleges that the defendants concealed from the investing public: (1) that large scale online wholesale was reasonably likely to lead to pricing volatility and heavy promotions of luxury goods; (2) that the Company’s core business was vulnerable to such pricing pressures; (3) that the Company would aggressively pursue acquisitions to remain profitable; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.  As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.

According to the Complaint, on or about September 24, 2018, the Company held its IPO in which it sold approximately 50.88 million shares of Class A common stock at a price of $20.00 per share.

Then, on August 8, 2019, Farfetch reported a larger-than-expected loss of $89.6 million for second quarter 2019.  The Company also announced a $675 million acquisition of New Guards Group and that its Chief Operating Officer had resigned.

On this news, shares of Farfetch fell over 44%, closing at $10.13 per share on August 9, 2019, on heavy trading volume.

If you wish to serve as lead plaintiff, you must move the Court no later than November 18, 2019.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.

Attorney advertising.  Prior results do not guarantee a similar outcome.

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