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MarketScreener Homepage  >  Equities  >  Nyse  >  Shopify Inc (US)    SHOP   CA82509L1076

SHOPIFY INC (US) (SHOP)
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Law Offices of Howard G. Smith Commences Investigation on Behalf of Shopify Inc. Investors (SHOP)

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10/05/2017 | 02:01am CEST

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 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 $13.91, 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 howardsmith@howardsmithlaw.com, 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.


© Business Wire 2017
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Financials ($)
Sales 2018 1 031 M
EBIT 2018 3,65 M
Net income 2018 -84,7 M
Finance 2018 1 440 M
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
EV / Sales 2018 15,6x
EV / Sales 2019 11,2x
Capitalization 17 516 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 161 $
Spread / Average Target -2,0%
EPS Revisions
Managers
NameTitle
Tobias Albin Lütke Chairman & Chief Executive Officer
Harley Finkelstein Chief Operating Officer
Amy E. Shapero Chief Financial Officer
Jeremy Seth Levine Independent Director
Steven A. Collins Independent Director
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