Bernstein Liebhard LLP Announces That It Is Investigating Claims Against zulily, Inc.
February 12, 2015
Bernstein Liebhard LLP today announced that it is investigating possible claims against zulily, Inc. (“zulily” or the “Company”) (NASDAQ: ZU). The investigation concerns whether zulily and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On February 11, 2015, after market close, the Company reported adjusted fourth-quarter earnings of 11 cents a share on revenue of $391.3 million – over 20% below analysts’ forecast of 14 cents a share on revenue of $406.5 million. Zulily also forecast first-quarter sales of $300 million to $320 million, well below analysts’ estimates of $371 million. Zulily largely blamed unexpectedly high customer churn for the low sales. Tellingly, zulily announced at the same time that Company Chief Financial Officer Marc Stolzman would be leaving the company in March. In a note on Thursday, February 12, 2015, RBC’s Mark Mahaney stated that “[t]he execution mistakes of the past two quarters…have been significant”.
If you lost money in zulily, or are interested in discussing your rights as a zulily shareholder and/or have information relating to the matter, please contact Joseph R. Seidman, Jr. at (877) 779-1414 or firstname.lastname@example.org.
Bernstein Liebhard LLP has pursued hundreds of securities, consumer and shareholder rights cases and recovered over $3 billion for its clients. The National Law Journal has recognized Bernstein Liebhard for twelve consecutive years as one of the top plaintiffs’ firms in the country.