Company: Netshoes (Cayman) Limited
Class Period: April 12, 2017 — May 14, 2018
Kaskela Law LLC is investigating claims on behalf of investors of Netshoes (Cayman) Limited (“Netshoes” or the “Company”) (NYSE: NETS). The investigation concerns whether Netshoes and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices, and whether Netshoes investors have been harmed as a result.
On or about April 12, 2017, Netshoes completed its initial public offering (“IPO”) of common shares, selling 8.25 million shares to investors at $18.00 per share. During the year following the IPO, the Company’s shares declined over 69% in value.
On May 14, 2018, the Company issued a press release reporting disappointing quarterly financial and operational results. Therein the Company reported that “in 2018 we will pursue a more moderate growth strategy in our B2C online operation as we prioritize short-term profitability and are still seeing a challenging consumption environment in Brazil which has not yet caught up with a slowly improving macroeconomic climate.”
Following this news, the Company’s shares declined nearly 44% in value, to close on May 15, 2018 at $2.87.
Netshoes investors are encouraged to contact Kaskela Law LLC at (888) 715 – 1740 to discuss this investigation and their legal rights and recovery options and/or complete the information form on this page.