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MarketScreener Homepage  >  Equities  >  Nyse  >  Farfetch Limited    FTCH   KY30744W1070

FARFETCH LIMITED

(FTCH)
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Shareholder Alert: Robbins Arroyo LLP Reminds Investors Farfetch Limited (FTCH) Sued for Misleading Shareholders

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10/16/2019 | 12:59pm EST

Shareholder rights law firm Robbins Arroyo LLP reminds investors that a purchaser of Farfetch Limited (NYSE: FTCH) has filed a class action complaint against the company for alleged violations of the Securities Act of 1933 pursuant to its September 2018 initial public offering ("IPO"). Farfetch provides an online marketplace for luxury goods.

If you suffered a loss as a result of Farfetch's misconduct, click here.

Farfetch Limited (FTCH) Accused of Misleading Investors in IPO

According to the complaint, in September 2018, Farfetch sold approximately 50.88 million shares of Class A common stock at a price of $20 per share and raised proceeds of approximately $750.5 million. In its Registration Statement, Farfetch stated that "the global market for personal luxury goods was estimated to reach a record high of $307 billion in 2017" and touted a business model that allowed "for low expenditures, favorable working capital dynamics, minimal inventory holding, and an ability to drive stronger margins." However, Farfetch failed to acknowledge that large scale online wholesale was vulnerable to pricing pressures due to the pricing volatility and heavy promotions of luxury goods. These issues became evident on August 8, 2019, when Farfetch reported a larger-than-expected loss of $89.6 million for second quarter 2019, a 406.9% increase over the prior period, citing promotional discounting to compete with the heavy discounts offered by large online retailers as the reason. On this news, Farfetch's share price fell $8.12, or over 44%, to close at $10.13. Farfetch stock currently trades at around $8 per share, a 60% decline from its IPO price.

Farfetch Limited (FTCH) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsarroyo.com
Shareholder Information Form

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.


© Business Wire 2019
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Financials (USD)
Sales 2019 973 M
EBIT 2019 -328 M
Net income 2019 -360 M
Finance 2019 305 M
Yield 2019 -
P/E ratio 2019 -8,54x
P/E ratio 2020 -10,5x
EV / Sales2019 2,67x
EV / Sales2020 1,91x
Capitalization 2 903 M
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Technical analysis trends FARFETCH LIMITED
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 15
Average target price 17,21  $
Last Close Price 9,68  $
Spread / Highest target 189%
Spread / Average Target 77,8%
Spread / Lowest Target -58,7%
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Managers
NameTitle
José Manuel Neves Co-Chairman & Chief Executive Officer
Natalie Sara Massenet Co-Chairman
Andrew George Robb Chief Operating Officer
Elliot Gilbert Jordan Chief Financial Officer
Cipriano Sousa Chief Technology Officer
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