Farfetch Limited (NYSE: FTCH)

This lawsuit is for anyone who acquired securities in Farfetch Limited (NYSE: FTCH) from March 9, 2023 through August 17, 2023.

The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that, throughout the time period mentioned above, the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that the Company misled investors by failing to timely alert investors that the Company was experiencing a significant slowdown in growth in the U.S. and China.

On August 17, 2023, Farfetch released its second quarter 2023 financial results, reporting revenue of approximately $572 million, missing the market consensus of $650.71 million. The Company also lowered its Full Year 2023 revenue forecast from $2.9 billion to $2.5 billion. The Company disclosed that significant slowdowns in growth in the US and China, onboarding challenges affecting the launch of its anticipated partnership with Reebok, and issues with shipping and inventory had negatively impacted revenue and gross merchandise value. On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.

The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Farfetch Limited (NYSE: FTCH) from March 9, 2023 through August 17, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.