Cases
Netshoes (Cayman) Limited (NETS)
Securities Class Action
Overview
Overview
- Date:
- 7/12/2018
- Company Name:
- Netshoes (Cayman) Limited
- Stock Symbol:
- NETS
- Status:
- Closed/Complete
NEW YORK, July 12, 2018 – Bragar Eagel & Squire, P.C. is investigating potential claims against Netshoes (Cayman) Limited (NYSE: NETS). Our investigation concerns whether Netshos has violated the federal securities laws and/or engaged in other unlawful business practices.
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. Goldman, Sachs & Co., J.P. Morgan Securities LLC, Banco Bradesco BBI S.A., Allen & Company LLC, and Jefferies LLC served as the Company's underwriters for the IPO.
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 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.”
Over the past 12 months, the Company’s stock has declined over 80%, closing on May 23, 2018 at $2.90 per share.
If you purchased or otherwise acquired Netshoes shares pursuant and traceable to the IPO and suffered a loss, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
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. Goldman, Sachs & Co., J.P. Morgan Securities LLC, Banco Bradesco BBI S.A., Allen & Company LLC, and Jefferies LLC served as the Company's underwriters for the IPO.
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 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.”
Over the past 12 months, the Company’s stock has declined over 80%, closing on May 23, 2018 at $2.90 per share.
If you purchased or otherwise acquired Netshoes shares pursuant and traceable to the IPO and suffered a loss, have information, 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 Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.