Investor alert: law offices of howard g. smith announces that a class action has been filed on behalf of etsy, inc. investors

Bensalem, pa--(business wire)--law offices of howard g. smith announces that a class action has been filed on behalf of investors of etsy, inc. investors (“etsy” or the “company”) (nasdaq:etsy) who purchased shares of etsy, and have been damaged by the recent declines in the company’s stock price. etsy investors have until july 13, 2015 to file a lead plaintiff motion. etsy investors are encouraged to contact howard g. smith, esq. to discuss their legal rights in the pending class action. the lawsuit claims that the company and its top executives misled investors by failing to disclose the risks associated with the company’s widespread sale of counterfeit goods, and/or goods that infringed on intellectual property rights. specifically, the lawsuit claims that defendants misstated and/or failed to disclose that: (1) over 5% of all merchandise for sale on etsy’s website were either counterfeit or constituted trademark or copyright infringement; (2) brands are increasingly pursing sellers on etsy’s platform for trademark or copyright infringement, jeopardizing etsy’s listing fees and commissions; and (3) as a result, etsy’s public statements were materially false and misleading at all relevant times. when the true details entered the market, etsy shares fell $1.86 per share on heavy trading volume to close at $20.85 per share on may 11, 2015. the company’s shares have declined further on news of etsy’s poor quarterly results, and that a major intellectual property rights holder has sued the company for infringement. on may 20, 2015, the company’s shares closed at $17.20, a nearly $14.00 per share decline from the company’s recent high of $31.00 on april 16, 2015. if you purchased shares of etsy during the class period, 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 http://www.howardsmithlaw.com. this press release may be considered attorney advertising in some jurisdictions under the applicable law and ethical rules.
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