RM LAW Announces Investigation of Netshoes (Cayman) Limited
BERWYN, Pa., June 8, 2018 /PRNewswire/ -- RM LAW, P.C. has commenced an investigation into potential securities law violations by certain officers of Netshoes (Cayman) Limited ("Netshoes" or the "Company") (NYSE: NETS).
If you purchased shares of Netshoes and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
On April 12, 2017, the Company went public through an initial public offering ("IPO") of 8,250,000 common shares at $18 per share, for gross proceeds of over $148 million.
On May 15, 2018, the Company's shares declined approximately 44% after the company reported a wider-than-expected loss for a third-straight quarter and missed on revenue for a fourth-straight quarter. One analyst reportedly commented that "[s]ince its IPO, [Netshoes] has disappointed on multiple fronts, leading to declining top line growth and risks a path to profitability . . . That is leading to a continuous cash burn, which should further stretch its balance sheet."
Since becoming a publicly traded company, the Company's stock has declined over 80%.
For more information regarding this, please contact RM LAW, P.C. (Richard A. Maniskas, Esquire) toll-free at (844) 291-9299 or by email at firstname.lastname@example.org or click here. For more information about class action cases in general or to learn more about RM LAW, P.C. please visit our website by clicking here.
RM LAW, P.C. is a national shareholder litigation firm. RM LAW, P.C. is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
CONTACT: RM LAW, P.C.
View original content with multimedia:http://www.prnewswire.com/news-releases/rm-law-announces-investigation-of-netshoes-cayman-limited-300662525.html
SOURCE RM LAW, P.C.
Company Codes: NYSE:NETS
© 2018 PR Newswire. All Rights Reserved.